Bitcoin was holding steady at its perch comfortably above $30K, unmoved by BlackRock CEO Larry Fink's crypto-friendly comments, and other potential price catalysts – (up or down) just as it's been the past 2 weeks. JPRubin23, TheSamReynolds write
The end of a long, U.S. holiday weekend, the release of June Federal Reserve minutes offering some detail on the central bank's current thinking about monetary policy and crypto-favorable comments by BlackRock CEO Larry Fink left bitcoin largely unstirred from its current resting place well above $30,000.
In an email to CoinDesk, Tim Frost, the CEO of digital wealth platform Yield App, wrote that the crypto market was likely transitioning from the 18-month bear market to more promising times. Frost noted parallels in the crypto 2019 crypto market when bitcoin stalled after emerging from a crypto winter before spiking again the following year.
Frost added that macroeconomic signals and crypto industry trends were pointing positively, including recent declines in inflation, the unveiling of a quantitative easing program in China, increased regulatory clarity in Singapore, Korea and Thailand to prevent the type of asset co-mingling that led to the implosion of disgraced exchange giant FTX and subsequent contagion.
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