Bitcoin is likely to remain rangebound, said Jeff Ko, chief analyst at CoinEx, pointing to three reasons why the backdrop has calmed.
Oil has retreated from last week’s highs after another lull in hostilities between the United States and Iran. The 10-year Treasury yield, near 4.7%, is itself doing some of the Fed’s tightening work. And the Fed may want to keep its options open ahead of this week’s second quarter GDP and PCE inflation data.
The biggest inflection factor is the corporate one. Apple, Microsoft, Meta and Amazon report this week, and Ko said their free cash flow and AI spending guidance could move Treasury and Nasdaq yields, indirectly shaping the liquidity flowing into cryptocurrencies.
Ko added that the composition of ETF flows will matter as much as the headline numbers.
