Bitcoin Rises to $85,000 Amid Market Adjustments and Fed Comments
Bitcoin (BTC) rose 1.6% over the last 24 hours, trading near $85,000. Ether (ETH) increased by 2.7% to $1,630. The CoinDesk 20 Index advanced 1.2%, with SOL and AVAX leading gains.
- The Nasdaq gained 0.6% and the S&P 500 rose 0.8%.
- MSTR and MARA Holdings stocks increased by approximately 3%.
- Federal Reserve Governor Christopher Waller indicated potential rate cuts if tariffs return, citing concerns about their impact on the economy.
- The European Commission postponed retaliatory tariffs on U.S. goods valued at €21 billion until July 14.
- Odds of a U.S.-EU trade agreement reached 65% on Polymarket.
Bitcoin Fundamentals
Bitcoin's rally faced resistance around $85,000, but improving fundamentals suggest potential for a breakout. SwissBlock Technologies reported:
- Consistent inflow of new participants since March.
- Stabilizing liquidity with reduced volatility.
- Accumulation of key levels indicates structural support for sustainable rallies.
Analysts expect that maintaining liquidity above the 50 line will lead to stronger price action.