Why $107.5K and $103.5K Could Be Critical Levels

Recent Bitcoin swings have not been purely technical. The macroeconomic backdrop also plays an essential role. The American decision to extend the break on certain Chinese imports until August has given a temporary elevator, because reduced trade tensions tend to improve the overall risks of risks.

In addition, President Donald Trump and Chinese President Xi Jinping are expected to have a call this week. Market players are looking closely at this dialogue, because a resolution or climbing in trade negotiations could have an impact on the global markets, including the cryptocurrency sector.

Meanwhile, the president of the federal reserve Jerome Powell has so far avoided providing detailed economic comments, in particular in his latest speech to the anniversary conference of the International Finance Division. This silence contributes to a feeling of uncertainty among investors who are already struggling with inflation problems and monetary policy changes.