Michael Saylor sends message of support for Bitcoin during market sell-off, fueled by Fed comments.

From Investing.com: 2024-07-03 16:00:22

Michael Saylor of MicroStrategy sends a strong message to the crypto community with his tweet “Just Bitcoin” amidst ongoing market sell-off. Bitcoin’s price dropped to $59,509 after hitting $63,223, fueling concerns. Fed Chair Powell’s cautious comments on inflation and interest rates added pressure, leading to liquidations totaling over $166 million.
Cryptocurrencies tumble as Fed Chair Powell signals no interest rate cut until inflation sustains at 2%. Current economic data shows labor market cooling, with weaker private payroll growth and high jobless claims. Market uncertainty prevails as investors await June’s nonfarm payroll report. BTC’s price direction remains uncertain in the coming days.

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