Crypto

Crypto Market Analysis

Crypto Market Analysis | 11 July 2024   

Crypto Market Analysis

BTC, which has been unable to go beyond the $58k mark for the last week, continued its sideways run as the overall volumes being traded dropped across the markets. For the short term, $54k is the big support, while $60k is the resistance level to watch.

After making a series of positive remarks about boosting the crypto sector, US presidential candidate Donald Trump is set to speak at the Bitcoin conference later this month to boost his pro-crypto image further.

Look out for US inflation data which is expected at 6 p.m. today. If the reading comes lower than expected, it can be bullish for the market whereas a higher reading will likely start another downward move.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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