Now, growth expectations continue to improve but a new risk is emerging: repricing in interest rates expectations. We already saw a more hawkish repricing as the market went from expecting 120 bps of easing in 2025 to just 50 bps at the moment. That was based on improving growth expectations and easing in recessionary fears.
Therefore, the economic data is now back in focus, especially on the inflation side. Watch out also for hawkish Fed comments.
On the daily chart, we can see that we have an upward trendline defining the bullish momentum. The buyers will likely continue to lean on the trendline to keep pushing into new highs, while the sellers will look for a break lower to extend the pullback into the 93,000 price area.
This article was written by Giuseppe Dellamotta at www.forexlive.com. Read More Details
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