BTCUSD

Bitcoin and the cryptocurrency market in general continue to be positively influenced by macroeconomic developments. The risk appetite created by the ceasefire and the expectations of loose monetary policy triggered by weak GDP data released in the US are keeping Bitcoin above the pivot level of 107,491.42. Investors are turning to crypto assets due to the flight from uncertainties in traditional finance and the scenario of liquidity abundance that potential interest rate cuts could bring. Whether this trend will continue will depend on tomorrow's US PCE data. Low inflation could further increase risk appetite, making the resistance level of 109,247.34 a target.