BTC Flattened In The $30K Zone, But Potentially Up!

<p>&nbsp;"Don't BTC take a break first, then next week it will continue to rise."</p><p><br /></p><p>After strengthening to $30,700, the price of cryptocurrency king Bitcoin (BTC) slipped back to $29,575 as digital asset custodian BitGo completed its acquisition of Prime Trust.</p><p><br /></p><p>However, the crypto market managed to see a surge amid growing concerns about central banks wanting to tackle inflation and its impact on economic development, commented Edward Moya, senior market analyst at Oanda.</p><p><br /></p><p>Moya also said that investors should be cautious following Wall Street's negative outlook on global growth prospects, which may have a negative impact on the crypto market.</p><p><br /></p><p><br /></p><p>However, the crypto market was not impressed when Federal Reserve (Fed) Chairman Jerome Powell intends to raise interest rates later this year but it fell slightly after the latest weekly jobless claims were higher than expected.</p><p><br /></p><p>According to Bob Baxley, the Chief Technology Officer (CTO) of Maverick Protocol said that BlackRock or any company looking to file a BTC ETF will probably be approved adding that he is also interested in seeing the performance of BTC including Ethereum (ETH) in the next few months.</p><p><br /></p><p>Baxley said again, the number of development activities related to digital assets has been increasing and the crypto market now not only has DeFi and non-fungible tokens (NFT) but also various new layers and layer 2 that are being built at a very fast speed.</p><p><br /></p><p>As of this writing, the price of BTC is still making a horizontal movement when it plunged by 0.57% at the level of $29,970 in the last 24 hours with a market capitalization of $581 billion</p>