Viewpoint: Whether the Bitcoin rise can be sustained largely depends on the macroeconomic conditions and any new developments in the trade sector.

On July 10, regarding the trend after Bitcoin's breakthrough high, Sid Powell, CEO and co-founder of the cryptocurrency asset management company Maple, stated that whether the Bitcoin rise can continue largely depends on the macroeconomic situation and any new developments in the trade sector. He believes that if trade talks hit a snag before Trump's August 1 trade agreement deadline, it could bring more resistance to Bitcoin. However, if progress is made on the trade agreement, and inflation data prompts The Federal Reserve (FED) to restart key interest rate cuts, it could support the continuation of Bitcoin's upward momentum. In addition, John Glover, Chief Investment Officer of the crypto lending platform Ledn and former Managing Director at Barclays Investment Bank, stated, "At present, it seems that Bitcoin is just retesting the previous historical high from May 22, and is facing selling pressure at that position." (Jin10)