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July 01, 2023Stable at $30,522 and still trending upwards, Today's session might suggest a slow down — Bitcoin trades at $30,522, after ending today at $30,476.
This uncertain state for Bitcoin is reflected by published market data as United States Core PCE Price Index (YoY) (May) came out at 4.6, while a consensus of analysts was expecting 4.7. United States Core PCE Price Index (MoM) (May) released yesterday at 12:30 UTC with a figure of 0.3, while the previous figure was 0.4. United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -208,300, while the previous figure was -239,300.
As the trading day commences, technical analysis suggests Bitcoin is approaching key support, around $833.64 away from $29,700. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Other markets show mixed performance as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Binance Coin ascends 0.95% to trade around $242.71.
This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 82.42% year to date.
