Regulators and interest rates have an impact on Bitcoin’s next move

Bitcoin has been trading between $62,000 and $65,000, amid mixed macroeconomic signals and traders pay close attention to Fed policy and inflation data. Despite growing institutional investor interest and growing activity in derivatives trading, the cryptocurrency still struggles to break through the key resistance level around $68,000. Regulatory progress, including the Securities and Exchange Commission (SEC) expansion of regulation and the EU’s implementation of MiCA, has exacerbated uncertainty in the market. Bitcoin’s correlation with traditional assets continues to grow, and investors are paying attention to the halving event in 2024 in a bid to find potential price catalysts.