Bitcoin Price Near $107K as Dem Hope Fed Go Cut and Tariff Deadline
Bitcoin price dey move round $106,500–$107,000 as traders dey yan mixed tins. Early July, BTC drop below $107K because profit-taking risk dey—on-chain data show say 98% supply dey make profit and realized profit/loss ratio don pass 2.4—and dem still dey cautious before US tariff deadline wey go happen July 9. Institutional demand still dey strong: Strategy add 4,980 BTC, carry im holdings reach 597,325 BTC (worth $64 billion) at average cost of $106,801. Market cap for US-listed miners climb to $28 billion, even as network hashrate reduce because heatwave. Bitfinex analysts talk say momentum dey fade after 40% rally from $73K, but some economists dey predict say e go bounce back to $130K as consolidation tight. Meanwhile, better than expected US inflation figures and stronger manufacturing PMI (52.9) don strengthen expectation for Fed pause and rate cuts later, wey dey fuel bullish feeling. Traders suppose watch upcoming inflation reports, Fed meetings, the tariff deadline wey dey near and on-chain signals for clues about short-term volatility and possible consolidation.
Bullish
Di strong demand wey institutional people get, plus di hope say Fed go reduce rate and better macro data, don pass short-term risk of profit-taking and worry about tariff. Even though on-chain metrics dey show say market don overbought and analysts dey warn say momentum dey fade, better things like improved US inflation, manufacturing PMI, and signals for future rate cuts, still dey support say price go dey steady above $106K and fit even go up. Traders fit see wahala around important events but overall, the bias still dey positive for BTC.