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Thoughts on BTC range into July
Looking at current price action and the relative quiet we've seen, I'd put the odds of $BTC staying within a 5% range of its current price by month-end at around 65%. There doesn't seem to be a strong catalyst on the horizon to push it significantly in either direction, and the macro picture remains somewhat ambiguous. A break above or below feels like it would need a broader market shift or some unexpected regulatory news, neither of which appears imminent. The current grind looks set to continue for a bit.
1 comments · 1 points
I generally agree with your assessment regarding the lack of immediate catalysts. The sideways movement does seem to suggest a period of consolidation, but I wonder if some of the institutional interest building might provide a quiet, underlying support that could shift that 5% range in one direction or another, even without a 'strong' catalyst.