Bitcoin was recently trading at about $20,500, up over 8% over the previous 24 hours. Ether, the second largest crypto by market cap, followed a similar price pattern, tumbling to an almost five-year low below $1,000 before rising late in the weekend. The tech-heavy Nasdaq closed an otherwise dreadful week for stocks with a modest 1.4% gain on Friday, while the S&P 500 ticked up a fraction of a percentage point. The Fear & Greed Index has been lingering in extreme fear territory for weeks and is now at 6, near its all-time low on a scale of zero to 100. The macro trend is likely to remain bearish until we see the Federal Reserve changing its stance in July’s FOMC meeting . . .
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