Jeff Koh, chief analyst at CoinEx, said Bitcoin is likely to remain in a range and points to three reasons why things have calmed down.
Oil retreated from last week’s highs after another pause in US-Iranian hostilities. The 10-year Treasury yield, which is nearing 4.7%, is doing some of the Fed’s tightening job. And the Fed may want to keep its options open ahead of this week’s PCE inflation and Q2 GDP data.
A bigger factor in the fluctuations is corporate. Apple, Microsoft, Meta and Amazon are all reporting this week, and Ko said their guidance on free cash flow and AI spending could affect Treasury yields and the Nasdaq, indirectly shaping liquidity flowing into crypto.
Ko added that the composition of ETF flows will be as important as the headline numbers.
