Bitcoin Price Stuck Despite Trump's Speech, Consolidation Within Range Likely

IconCryptoNewsTerminal Staff29 Jul, 2024

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Bitcoin Price Stuck Despite Trump's Speech, Consolidation Within Range Likely

Bitcoin's value oscillated during former President Donald Trump's address at the Bitcoin 2024 Conference, as reported by Singapore-based crypto exchange QCP Capital. However, the movement was less significant than anticipated by options traders. Currently, Bitcoin is experiencing low volatility, fluctuating between $67,000 to $70,000. Analysts believe a more substantial catalyst is necessary to drive significant price action, possibly emerging closer to the US presidential election. Since Bitcoin failed to surpass its previous record high, experts anticipate short-term consolidation within the current range.