Bitcoin is likely to remain range-bound, said Jeff Ko, chief analyst at CoinEx, and he points to three reasons why the backdrop has calmed.
Oil retreated from last week’s highs after another pause in hostilities between the United States and Iran. The 10-year Treasury yield, close to 4.7%, alone contributes to the Fed’s tightening. And the Fed may want to keep its options open ahead of this week’s PCE inflation and second-quarter GDP data.
The biggest swing factor is business. Apple, Microsoft, Meta and Amazon all released their reports this week, and Ko said their free cash flow and AI spending forecasts could move Treasury yields and the Nasdaq, indirectly shaping the liquidity flowing into crypto.
Ko added that the composition of ETF flows will matter as much as the overall numbers.
