Market Update Hope you guys had a good weekend
$BTC has tested its 200-day moving average, around $44,900, for the first time since late-May. We do have to factor in that we have yet to see a daily price close above the 200-day MA, so some money could be sidelined until that happens.
We also should consider that true market reaction from the $1.2 trillion infrastructure bill has not yet been felt.
if the bill is approved we may see the market focusing on the inflationary impacts and not just the crypto regulatory impact. Additionally, if the bill is improved then the chances of the U.S. dollar coming under speculative attack at some point this year are dramatically increased in my opinion.
