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Are you keeping a close eye on the stock market trends and looking for the latest updates on Bitcoin and other cryptocurrencies? You’re in the right place! At Extreme Investor Network, we provide expert insights and analysis on all things related to trading, Wall Street, and beyond.
Bitcoin Targets $70,000 on Soft US Economic Landing Signals
While XRP remains below $0.55, Bitcoin (BTC) is showing strength as it attempts to break above the crucial $70,000 level. Recent US labor market data and Services PMI figures have boosted expectations for a soft landing of the US economy, leading to increased demand for BTC.
The positive economic data, including a decrease in initial jobless claims and a slight increase in Services PMI, indicate a resilient US economy. Despite concerns about inflation rates and a potential Fed rate cut in December, investors remain optimistic.
At Extreme Investor Network, we track these market signals closely to provide you with valuable insights and help you navigate the ever-changing landscape of the stock market.
US BTC-Spot ETF Market Eyes $1 Billion Weekly Inflows
The US BTC-spot ETF market is experiencing a surge in inflows, with iShares Bitcoin Trust (IBIT) leading the way. Investors are positioning themselves for potential Fed rate cuts in the coming months, driving demand for BTC-spot ETFs.
Our team at Extreme Investor Network analyzes these market trends to keep you informed and help you make strategic investment decisions. Stay ahead of the curve with our in-depth analysis and expert commentary.
Bitcoin (BTC) Price Action
Bitcoin (BTC) has seen some positive price action recently, with a 2.28% increase on October 24. As we approach the US Presidential Election and monitor economic data closely, the $70,000 level remains a key resistance to watch.
Our team of experts at Extreme Investor Network is here to provide you with real-time updates and analysis on Bitcoin and other market-moving events. Let us be your trusted source for all things related to trading, Wall Street, and beyond.
Stay tuned for more valuable insights and analysis from Extreme Investor Network!