From Investing.com: 2024-07-10 16:00:22

Michael Saylor, MicroStrategy cofounder, asserts “Bitcoin is the balance of Power” in a tweet, sparking conversation in the crypto community. Bitcoin’s rise in adoption suggests a potential shift in power dynamics. Institutional interest in Bitcoin as an investment option reinforces this notion amid ongoing market instability. BTC currently hovers near a critical resistance level, with investors awaiting its next move at $57,630.

Federal Reserve Chair Jerome Powell’s upcoming speech and anticipated rate lowering decisions continue to impact the crypto market’s direction. Powell’s remarks and other Fed members’ speeches scheduled this week are closely monitored for hints on market expectations. Speculation surrounds the possibility of rate cuts in September and year-end, shaping future market sentiment. Investors keenly watch for signals that may determine future price movements.

Read more at Investing.com: Michael Saylor Issues Bitcoin Message Amid Crypto Market Uncertainty By U.Today