Bitrue Weekly Market Report: Bitcoin in a Trading Range: Calm before the Storm?

Report Period: July 4th to 10th, 2022

Market Overview:

  • Current commodity market is saying that the current inflation rate has peaked, although it is still far from the level it should be pre-Covid.
  • A strong dollar will crush the demand for US goods and services, and potentially lower the overall US economy.
  • Mt. Gox is reportedly planning to distribute roughly 140,000 Bitcoin to its creditors, which may potentially put selling pressure on the market.

Bitcoin in a Trading Range: Calm before the Storm?

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