Bitcoin Price Prediction: BTC Back at $28,450; What's Next - Further Rise or a Possible Bearish Pullback Today?
As Bitcoin reclaims its position at the $28,450 mark, investors are left questioning the future direction of this prominent digital asset.
Will the bullish trend continue, enabling further rise in Bitcoin's value, or should we brace ourselves for a possible bearish correction?
As we delve into the technical and market indicators, we aim to illuminate these inquiries in our Bitcoin price prediction today.
Bitcoin's (BTC) price has risen by 3%, and the rest of the cryptocurrency market is exhibiting a green hue, indicating a potential weekend upswing.
However, this capital inflow was observed only after Kevin McCarthy, the Republican leader, and US President Joe Biden reached a preliminary agreement to elevate the massive $32.4 trillion federal debt ceiling.
This consensus, reached after four consecutive days of 90-minute phone discussions, is tentative at present. Biden has expressed confidence that this deal will prevent the US from encountering a default.
Meanwhile, Kevin McCarthy has attributed the delay to Biden, accusing him of wasting time and repeatedly declining negotiations over several months.
By the agreement, spending by the US government will be restricted for the upcoming two years. Importantly, costs related to national security will be exempted.
This pact was established a month after US Treasury Secretary Janet Yellen issued a warning concerning a potential risk of default on June 1.
In the aftermath of the debt ceiling announcement, Bitcoin has witnessed an increased influx of funds, propelling BTC/USD prices upwards by more than 3% within a single day.
This rise endorses former Wall Street trader Macrojack's assertion regarding the paramountcy of tangible assets like Bitcoin, particularly as he anticipates
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