[Bit推] Regarding the trend after Bitcoin breaks new highs, Sid Powell, CEO and co-founder of a certain encryption asset management company, stated that whether Bitcoin's rise can be sustained largely depends on the macroeconomic situation and any new developments in the trade sector. He believes that if trade talks face setbacks before the August 1 deadline for the Trump trade agreement, it may bring more resistance to Bitcoin. However, if there is further progress in the trade agreement and declining inflation data prompts The Federal Reserve (FED) to restart key interest rate cuts, it may support the continued rise of Bitcoin.
In addition, John Glover, the Chief Investment Officer of a certain crypto lending platform and former Managing Director of Barclays Investment Bank, stated that currently, Bitcoin seems to be just backtesting the previous historical high point from May 22, and is facing selling pressure at that position.