Grayscale: Bitcoin likely bottomed at $58,000 in June
- —Pandl: Bitcoin's bottom was likely formed at $58,000 in late June
- —BTC held $76,000 after the Fed's first rate hike in three years
- —Grayscale calls the current range an opportunity to build positions
- —Pandl: Bitcoin is increasingly driven by macroeconomics rather than the four-year cycle
Why it matters: If the Fed does not continue hiking and the economy stays strong, the current range could become an entry point for institutions.
Source: Bitcoin Sistemi