Bitcoin Just Hit a 30-Day High Above $65,000. Where Does BTC Go From Here?
Yahoo Finance ·
Is Bitcoin ( BTC -1.95% ) ready to break out to the upside? This is what the bulls are hoping for, especially as the world's top cryptocurrency has climbed 11% since the start of July (as of the afternoon of July 22). Bitcoin currently sits just under $66,000 per unit. Where does the oldest, most valuable digital asset go from here? To be clear, no one knows. But these two factors have gotten in the way of sustainable price appreciation. The biggest theme in markets remains the artificial intelligence (AI) boom. Earnings season is upon us, so shareholders in these businesses will be paying close attention to spending plans, product and service updates, and demand trends, among other variables, to ensure the story remains intact. Of the top 10 positions in the S&P 500 ( ^GSPC +0.05% ) , all are directly exposed to the AI revolution. Combined, these businesses carry a gargantuan market capitalization of more than $25 trillion. AI has certainly attracted significant amounts of capital.
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