The last Bitcoin price procedure has warned Geoff Kendrick from Standard Charged of a possible test of decisive support levels between $ 69,000 and $ 76,500.
This region, which is compatible with BTC price movements after the US elections in November 2024, can determine the short -term path of the original.
BTC dumping momentum
While much discussion of the recent market may revolve around Trump’s position in pro -Carbuto, Kindrik stresses that the wider total economic factors, including the sharp decline in the future of Nasdak, played a much larger role in bitcoin momentum.
The sale process coincides with the increasing risk of both traditional and digital asset markets. Trump’s recent commercial tariffs on Canada and Mexico, as well as new concerns about the stability of the American economy, have fueled more negative feelings.
Since last week, Bitcoin has decreased more than 10 %, now homing near 83,000 dollars, while Ethereum has decreased to less than 2100 dollars, which represents its lowest point since November 2023.
Bitcoin’s strategic possessions under pressure
As BTC approaches the support range between 69,000 and 76,500 dollars, its association with companies traded for the public such as Strategy (formerly Microstrategy) became a focal point for analysts.
The average BTC strategy purchase price sits about $ 65,000, making any additional decrease particularly important for the company’s public budget. The Standard Charged report highlights that the strategy shares (MSTR) may actually hover at levels that reflect November 6, 2024, make the price.
A continuous decrease in bitcoin may increase the pressure pressure on MSTR, as investors re -evaluate the company’s exposure to BTC.
Despite Trump’s bullish speech on encryption, the institutional response tells a different story. ETF flows indicate that big investors reduce exposure rather than accumulation. Bitcoin’s investment funds are suffering in fixed flows, with IBIT and FibTC’s FBTC from Blackrock. Last week alone, IBIT recorded more than a billion dollars in external flows, indicating that institutions are still cautious despite the retailer enthusiasm.
ETHEREUM has not been avoided from the broader shrinkage on the market, as ETH ETFS recorded its eighth consecutive day of external flows. On Monday alone, Spot ETH ETFS witnessed the exit of $ 12.1 million, which expands a pattern of institutional sale that has been affected by the assets for weeks.
