Thursday brings cautious anticipation to the cryptocurrency sector as the market awaits the Personal Consumption Expenditures (PCE) report. Expected to show increased figures compared to last month, the report is crucial for investors who fear the repercussions of numbers exceeding expectations. This uncertainty lingers as forecasts for POPCAT and CRV come into play.
How Are POPCAT and CRV Performing?
Members of the Federal Reserve are maintaining a watchful stance, eager for conditions where tariffs don’t heavily strain inflation before considering rate cuts. Although the tariffs’ effect on inflation, estimated between 2-3 percentage points, isn’t finalized, clarity is anticipated by July 9. Discussions are underway about potential tariffs as high as 50%, hinging on negotiations with global partners.
“Most altcoins are still on a downtrend right now. Coins like POPCAT face two possibilities: they might either consolidate at recent low levels and maintain these in the coming weeks or continue to descend. The situation isn’t very promising for many.”
POPCAT Coin could dip further to $0.11 if it cannot hold the crucial $0.2305 support level. Conversely, if tariff scenarios are favorable, a cautious optimism points to the potential of reaching $0.5.
Is Bitcoin Set for a New High?
Later in the day, critical remarks are expected, including a speech from Barr of the Federal Reserve at 20:15, comments on tariffs from the European Central Bank’s President at 21:30, a briefing to the Senate about Iran at 21:00, and statements from Trump at 23:00.
BTC analyst Jelle provided an insightful examination, noting significant liquidity between the current price and the ATH region. The possibility of BTC making an attempt at its ATH could pose a threat to short sellers, potentially leading to substantial losses for those positions.
Key takeaways from this dynamic market landscape include:
- POPCAT might face a further decline to $0.11 if support fails.
- CRV’s critical buying points could surface at $0.312, as suggested by Waleed Ahmed.
- A potential unravelling for short positions if BTC approaches ATH levels.
With significant economic events on the horizon, the cryptocurrency market is poised at a pivotal juncture. Stakeholders eagerly watch for cues that could dictate the next bullish or bearish wave, shaped by global financial shifts and institutional commentary. As details unfold, those navigating this sector must remain agile in their strategies.
