Crypto Daily – The week closed with bullish overtones for . Managing to stay above the recently reclaimed $63,000 support, the $BTC price is consolidating here while the bulls are eyeing the top of the channel at around $68,000.
A week of economic data to come
The Spot Bitcoin ETFs saw a bumper inflow of $252 million on Friday – the seventh straight day of positive inflows. On the flip side of the coin, the U.S. government Bitcoin still remains that chilling spectre of what might happen if the Biden/Harris administration decides to sell, and the Mt. Gox Bitcoin distributions have mostly been returned to creditors, who for the most part, look as though they are going to hold for now.
This week is full of data releases from the U.S. economic agencies, and given the Federal Reserve’s dovish tone on future interest rate cuts, the government will be hoping that the economy is easing into a soft landing, rather than that very hard one that some analysts are predicting.
The…
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