Bitcoin maintains its bullish momentum following US Producer Price Index (PPI) data, with investors eyeing liquidity near $120,000. Analysts are closely monitoring resistance and support levels as the cryptocurrency market remains sensitive to macroeconomic data.
GameStop CEO Ryan Cohen has teased that the company may accept crypto for trading card purchases and sees the company's Bitcoin investment as an inflation hedge. GameStop will look at all cryptocurrencies as a possible payment method.
Amid market disappointment over the U.S. Federal Reserve's decision to keep interest rates unchanged, Michael Saylor, the Executive Chairman of Strategy, remains steadfast in his conviction in Bitcoin. Saylor's stance highlights a strategic view that sees Bitcoin as a critical component for economic resilience, independent of traditional monetary policies .
As the United States national debt continues its upward trajectory, surpassing an unprecedented $37 trillion , a growing contingent of investors and analysts are turning their attention to Bitcoin as a potential hedge against economic uncertainty. This staggering debt, which represents 122% of the country's annual gross domestic product (GDP) , has ignited conversations about the long-term stability of the U.S.
