Bitcoin is likely to remain range-bound for now, according to CoinEx chief analyst Jeff Ko, who told CoinDesk that the market backdrop has become calmer for three main reasons. He pointed to oil pulling back from last week’s highs after another pause in U.S.-Iran hostilities, the 10-year U.S. Treasury yield nearing 4.7% and effectively doing some of the Federal Reserve’s tightening on its own, and the Fed’s likely preference to keep its options open before this week’s releases of PCE inflation data and second-quarter GDP figures.
Ko said the larger swing factor this week may come from corporate earnings. Apple, Microsoft, Meta and Amazon are all due to report, and their free cash flow figures and guidance on AI spending could influence Treasury yields and the Nasdaq. That, in turn, may shape the liquidity conditions feeding into crypto markets. He also said ETF flow composition will matter just as much as the headline numbers, suggesting traders may look beyond aggregate inflow or outflow data to the underlying mix.
Bitcoin is likely to stay range-bound, CoinDesk reported, citing CoinEx chief analyst Jeff Ko, who said the backdrop has calmed and laid out three reasons for that view.
Three factors behind a calmer backdrop
Ko said oil has pulled back from last week’s highs after another pause in U.S.-Iran hostilities. He also pointed to the 10-year U.S. Treasury yield, which is approaching 4.7%, saying it is doing part of the Federal Reserve’s tightening work on its own.
He added that the Fed may want to keep its options open ahead of this week’s PCE inflation data and second-quarter GDP data.
Corporate earnings may drive bigger swings
Ko said the bigger swing factor is corporate. Apple, Microsoft, Meta and Amazon are all scheduled to report this week.
According to him, their free cash flow and guidance on AI spending could move Treasury yields and the Nasdaq, indirectly shaping the liquidity that flows into crypto.
ETF flow composition is also in focus
Ko also said the composition of ETF flows will matter as much as the headline numbers.
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