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Bitcoin is “caught between flow deterioration and macro relief”
itcoin is flat on Tuesday morning, hovering around $66,300, following a brief rally over the weekend on the news of a looming Iran deal. Yet, while the reopening of the Strait of Hormuz and an end to the war would remove the macro overhang and support risk assets, analysts say it’s not to sustain a rally at this point. “The market is caught between flow deterioration and macro relief,” Timothy Misir, Blockhead Research Network head of research, wrote in a note. bitcoin is down 9.8% so far in June, according to Coinglass, the worst June for the asset since 2022. Misir said that while bitcoin “won a short-term ... (full story)
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