TechFlow news, October 18 — According to Decrypt, Bitcoin has risen 11% over the past week and is now approaching its July peak. However, one analyst warns that macroeconomic factors could pose challenges for Bitcoin's price. Yuya Hasegawa, Bitbank's cryptocurrency market analyst in Japan, emphasized that rising U.S. bond yields are "somewhat concerning for Bitcoin's future." Higher bond yields may lure investors toward bonds, reducing investments in risk assets like Bitcoin. Nevertheless, markets still anticipate a potential 25-basis-point rate cut by the Federal Reserve in November. Additionally, strong inflows into Bitcoin ETFs could drive up Bitcoin’s price. The analyst added: "The combination of robust ETF inflows and macroeconomic catalysts suggests Bitcoin is poised for a breakout. If Bitcoin avoids rejection over the weekend, it could reach $70,000 by Monday, facing a final test."
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