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You are visiting the website that is operated by Ultima Markets Ltd, a licensed investment firm by the Financial Services Commission “FSC” of Mauritius, under license number GB 23201593. Please be advised that Ultima Markets Ltd does not have legal entities in the European Union.
If you wish to open an account in an EU investment firm and protected by EU laws, you will be redirected to Ultima Markets Cyprus Ltd (the “CIF”), a Cyprus investment firm duly licensed and regulated by the Cyprus Securities and Exchange Commission with license number 426/23.
On Friday, Bitcoin’s value reached stability, climbing above the $61,000 threshold after dropping to a near two-month low at the beginning of the week. Its recovery was bolstered by renewed investments into Bitcoin Exchange Traded Funds (ETFs) based in the US, alongside weakened economic indicators from the US, reinforcing arguments for potential Federal Reserve interest rate reductions.
Following seven consecutive days of capital outflows, the US saw a positive shift in spot Bitcoin ETF capital flows on June 25 and 26. Moreover, from the start of May to June 26, the total assets in US-based funds grew from $47 billion to over $52 billion. The value of Bitcoin was also supported by a decrease in the US dollar value and Treasury yields, following the release of American economic data indicating a sustained slowdown in economic activity, which fueled speculations of interest rate cuts. Investors are now anticipating the release of US Personal Consumption Expenditures (PCE) inflation data, expected later on Friday, for further understanding of the Federal Reserve’s monetary policy direction. Market sentiments were also swayed by the political arena, especially after the first presidential debate in the US between Donald Trump and Joe Biden, with Trump being recognized as the more pro-Bitcoin candidate.
(BTCUSD Weekly Chart)
Disclaimer
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
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Ultima Markets is a member of The Financial Commission, an international independent body responsible for resolving disputes in the Forex and CFD markets.
All clients of Ultima Markets are protected under insurance coverage provided by Willis Towers Watson (WTW), a global insurance brokerage established in 1828, with claims eligibility up to US$1,000,000 per account.
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RISK DISCLOSURE
Risk Warning: Trading Forex and CFDs carries the risk of losing substantially more than your initial investment and should only be traded with money you can afford to lose. You do not own or have any rights to the assets that underlying the derivatives (such as the right to receive dividend payments). Ensure you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please consider our legal documents and ensure that you fully understand the risks before you make any trading decisions.
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Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission "FSC" of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
HuaPrime EU Ltd, registered number HE423188, and with a business address at Georgiou Griva Digeni 122A, Kallinicos Court, Shop 1—Upper level, Neapolis, 3101 Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission, which has CIF license number 426/23.
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