Coinbry

  • Market Cap: $2,659,387,588,021.79
  • 24h Vol: $86,837,336,934.01
  • BTC Dominance: 49.79%
7/31 Price Analysis: SPX, DXY, BTC, ETH, XRP, BNB, ADA, DOGE, SOL, LTC

7/31 Price Analysis: SPX, DXY, BTC, ETH, XRP, BNB, ADA, DOGE, SOL, LTC

Bitcoin’s low volatility suggests that the next price breakout will be volatile, but the direction is uncertain. The S&P 500 Index has been reaching all-time highs due to receding inflationary pressures and expectations of an end to the Federal Reserve’s tightening cycle. However, Bitcoin has remained range-bound in July and is on track to end the month with a loss. Traders are eager to know when Bitcoin’s range will break and in which direction. The longer the time spent inside the range, the stronger the breakout is likely to be. It is difficult to predict the direction of the breakout, so it is better to wait for the price to sustain above or below the range before making large bets. The article also provides analysis for other cryptocurrencies such as Ether, XRP, BNB, Cardano, Dogecoin, Solana, and Litecoin.

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