Bitcoin stays range-bound near $65,500 as mega-cap earnings loom
In brief
- Bitcoin likely to stay range-bound near $65,500 amid calmer macro backdrop
- Oil retreated after U.S.-Iran tensions pause; 10-year yield approaching 4.7%
- Apple, Microsoft, Meta, Amazon earnings this week could move Treasury yields
- ETF flow composition matters as much as headline earnings numbers
Macro headwinds ease
Oil has retreated from last week's highs after another pause in U.S.-Iran hostilities. The 10-year Treasury yield, approaching 4.7%, is doing part of the Fed's tightening work on its own. These shifts have created breathing room for risk assets.
The Fed's stance matters too. The central bank may want to keep its options open ahead of this week's PCE inflation and second-quarter GDP data releases. That uncertainty could keep volatility in check.
Earnings and crypto liquidity
This week brings a cluster of mega-cap reports. Apple, Microsoft, Meta and Amazon all report this week. Ko sees these earnings as more than just equity events.
Ko said their free cash flow and AI-spending guidance could move Treasury yields and the Nasdaq, indirectly shaping the liquidity that flows into crypto.
Ko added that the composition of ETF flows will matter as much as the headline numbers. That distinction matters for traders watching how capital rotates across asset classes.
