Five Key Bitcoin Developments to Watch This Week

IconCryptoNewsTerminal Staff08 Jul, 2024

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Five Key Bitcoin Developments to Watch This Week

Bitcoin has experienced a challenging week, with bears maintaining control and prices struggling to reclaim the $54,300 level. Despite this price weakness, short-term holders have remained steadfast, holding a significant 218k BTC. This week, several key factors will influence Bitcoin's price movement, including the weekly RSI, which remains below 42 and could indicate further losses. The release of US CPI data on Thursday, July 11, and the current Fear & Greed Index level, which has returned to extreme fear levels of 28, will also be closely watched. By monitoring these key developments, traders can make informed decisions and navigate the market's volatility.

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