The worst is over? Bitcoin's price rally signals a shift in crypto market

IconCryptoNewsTerminal Staff14 Jul, 2024

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The worst is over? Bitcoin's price rally signals a shift in crypto market

Bitcoin has found a short-term bottom and is rallying higher, according to analysts. This rally could continue in the coming weeks and months due to several factors, including the potential for a dovish pivot from the Federal Reserve and increased inflows into spot BTC ETFs. "We could see further BTC price strength over the coming weeks to months," said Ben Simpson, CEO of crypto research platform Collective Shift. "This is based on the potential for a dovish pivot from the Federal Reserve in the second half of the year and increased inflows into spot BTC ETFs." Josh Gilbert, an analyst at stock and crypto trading platform eToro, also believes that the worst may be over for Bitcoin. "Especially if the chances of Donald Trump winning the election increase, I can see BTC moving even higher," he said. The recent rally in Bitcoin's price is a sign that the crypto market is starting to recover from the recent sell-off. However, it is important to note that the market is still volatile and could experience further setbacks in the future.

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