From Investing.com: 2024-06-27 14:30:22

Michael Saylor, co-founder of MicroStrategy, continues to support Bitcoin amidst economic uncertainty, calling it the “cure to economic ill.” Bitcoin recently hit $62,000 following a dip below $60,000, influenced by mixed economic signals. The ongoing debate over potential rate cuts reflects inflationary pressures and economic indicators. Saylor sees Bitcoin as a hedge against instability and inflation, likening it to an “orange pill” for enlightenment.

Bitcoin’s price reached $62,035, up 0.41% with intraday highs of $62,346. Stabilizing between $56,500 and $73,777, Bitcoin requires a strong catalyst to break the range. Bulls aim to defend $56,000 support, with resistance at $64,800. Breaking above this level could signal a rally towards $70,000. Bulls are expected to remain active in the $60,000 to $56,500 range.

(Source: U.Today)

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