Bitcoin Price Analysis: BTC Steady Around $118,000 As Fed Decision, Tech Earnings Loom
Bitcoin (BTC) steadied itself over the weekend while altcoins declined, entering a holding pattern ahead of the Fed decision on rate cuts, tech earnings, and crucial ETF data.
The Fed is expected to announce its decision on interest rates, while tech earnings from major companies, including Microsoft and Amazon, could also impact market sentiment. ETF inflows have continued, but tariff tension could spark market volatility.
Robert Kiyosaki Recommends Bitcoin ETFs For The Average Investor
Rich Dad Poor Dad author Robert Kiyosaki has recommended spot Bitcoin ETFs for average investors. However, he called them inferior to the real asset, and urged sophisticated investors to hold real gold, silver, and Bitcoin (BTC) above ETFs. The author said ETFs were like “having a picture of a gun for personal defense,” emphasizing their limitations compared to Bitcoin. Kiyosaki stated,
“I realize ETFs make investing easier for the average investor, so I do recommend ETFs for the average investor. Yet I extend these words of caution. For the average investor, I recommend: Gold ETFs, Silver ETFs, and Bitcoin ETFs. Yet an ETF is like having a picture of a gun for personal defense. Sometimes it’s best to have real gold, silver, Bitcoin, and a gun. Know the differences when it is best to have real and when it’s best to have paper. If you know the differences and how to use them… you’re better than average.”
Kiyosaki’s position highlights his conviction that traditional savings methods fail during monetary debasement. The author had recently outlined his intention to buy “one more Bitcoin” after the asset crossed $120,000. However, he warned investors against excessive greed while explaining his decision to pause purchases until the economic situation becomes clearer.
Bitcoin Will No Longer Expect Parabolic Rallies Or Plunging Bear Markets
Blockware Bitcoin analyst Mitchell Askew believes Bitcoin’s (BTC) parabolic rallies and devastating bear markets are a thing of the past thanks to Bitcoin ETFs. According to Askew, spot Bitcoin ETFs have permanently reduced volatility and altered market dynamics. The analyst stated,
“BTC/USD looks like two entirely different assets before and after the ETF. The days of parabolic bull markets and devastating bear markets are over. BTC is going to $1 million over the next 10 years through a consistent oscillation between ‘pump’ and ‘consolidate.’ It will bore everyone to death along the way and shake the tourists out of their positions.”
According to Bloomberg ETF analyst Eric Balchunas, reduced volatility has helped Bitcoin attract even bigger fish, giving it a fighting chance at mainstream adoption. However, the tradeoff is that there will likely be no more “God Candles.” Spot Bitcoin ETFs isolate capital into traditional investment vehicles that lack in-kind redemption and keep funds off-chain. This prevents the rotation of capital into altcoins, which is something investors have come to expect from previous market cycles. Net inflows into spot Bitcoin ETFs crossed the $50 billion mark in July. However, the surge of capital into the asset has not translated into on-chain activity.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) faced substantial volatility last week, tumbling to an intraday low of $114,779 on Friday. However, it rebounded from this level to reclaim $118,000 and settle at $117,565. The recovery continued over the weekend as the price registered a marginal increase on Saturday and then rose 1.31% on Sunday to cross $119,000 and settle at $119,398. The flagship cryptocurrency enters a crucial week, with several macroeconomic factors influencing price action.
BTC is expected to react to the Fed’s decision on interest rates, which will be announced on Wednesday. Economists expect the Fed to leave interest rates unchanged between 4.25% and 4.50%. While the Fed believes the economy is doing alright, it remains concerned about the impact of Trump’s tariffs on inflation. Inflation has steadily picked up in the past few months, with the consumer price index (CPI) rising from 2.4% in June to 2.7% in July. The second catalyst for the flagship cryptocurrency will be the second-quarter earnings. The Magnificent 7, including Tesla (TSLA), Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Nvidia (NVDA), and Meta Platforms (META), will publish their earnings this week.
Over 50% of all companies listed in the S&P 500 will publish their earnings this month. Market watchers believe that earnings growth has been more resilient than expected, explaining why the S&P 500 has reached record levels. Meanwhile, spot Bitcoin ETFs continue to register inflows, adding $72 million in inflows last week. While this has been the smallest weekly gain since June, Bitcoin ETFs continue to register strong investor interest.
Buyers will be eying the $120,000 mark this week as they look to reclaim key levels. BTC’s uptick comes after reports that the US and China had agreed to delay the introduction of reciprocal trade tariffs.
“JUST IN: China and the US have agreed to extend their pause on tariffs for another 90 days.”
Analysts believe BTC must cross the $119,000-$120,000 levels for a big move to materialize. Crypto investor Ted Pillows stated in a post on X,
Rekt Capital highlighted a slightly higher ceiling at around $120,000, stating.
“Bitcoin has Daily Closed above the blue Range Low, kickstarting a break back into the very briefly lost Range. Any dips into the Range Low (confluent with the new Higher Low) would be a retest attempt to confirm the reclaim.”
BTC traded in the red on Friday (July 18), dropping over 1% after reaching an intraday high of $120,800 and settling at $117,877. Sellers retained control over the weekend as the price registered a marginal decline on Saturday and fell 0.48% on Sunday to settle at $117,240. The price reached an intraday high of $119,603 on Monday. However, it could not stay at this level and fell to $117,402, ultimately registering a marginal increase. Bullish sentiment intensified on Tuesday as BTC rallied, rising over 2% to cross $119,000 and settling at $119,982.
Source: TradingView
Despite the positive sentiment, BTC lost momentum on Wednesday, dropping 0.99% to a low of $117,321 before settling at $118,794. Buyers retained control on Thursday as the price registered a marginal decline and settled at $118,381. Selling pressure intensified on Friday thanks to the sale of 80,000 BTC by a Satoshi-era whale. As a result, BTC plunged to an intraday low of $114,779. However, with the market pricing in the sale, the price recovered to reclaim $117,000, settling at $117,565, ultimately registering a 0.60% drop. BTC recovered over the weekend, registering a marginal increase on Saturday before rising 1.31% on Sunday to reclaim $119,000 and settle at $119,398. The current session sees BTC down 0.47%, trading around $118,820.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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