Bitcoin maintained a stable price trajectory as several key macroeconomic factors converged, offering support to the cryptocurrency market.
This stability coincides with recent data indicating signs of cooling inflation within the United States, easing some investor concerns about prolonged high interest rates.
Market sentiment was also influenced by comments from former US President Donald Trump regarding a potential trade deal with China, adding another layer to the global economic outlook.
Further bolstering the market, anticipation continues to build around a potential interest rate cut by the US Federal Reserve later this year. This expectation is seen as a positive catalyst for risk assets like Bitcoin.
The confluence of these events – moderating inflation, geopolitical trade discussions, and dovish monetary policy expectations – appears to be contributing to Bitcoin’s current price resilience.