Bitcoin Price has made a bold trend this week, recovering $ 90,000 for the first time in nearly two months. This gathering is attributed to a wide range of factors, including high flows to discover the investment funds circulating in BTC, but one analyst said that this pump may not continue because it is simply driven by the leverage. Other analysts also attributed the gains to the total factors such as the low value of the US dollar.
Why may be the high price of bitcoin is fake
Bitcoin is currently approaching its highest levels in two months despite the increasing doubts between some analysts that this gathering may reach fatigue. For analysts Maartunn on X, this gathering was the “Easter -based Easter pump” after Bitcoin recently added more than two billion dollars of open interest within 24 hours.
It is also seen as an open interest on Codinglass data after this scale reached $ 60 billion, which is the highest level in two months. Another analyst known as TXMC note that the fast boom in OI indicates that the continuous The BTC price rally may fade. opinion ,
“If Bitcoin erupted into a separation from other risk assets, it will not be fed by more than $ 1.5 billion of future contracts that were opened in a 24 -hour period.”
Besides BTC’s open attentionTXMC added that this gathering also stems from the weak value of the US dollar. The US dollar index fell to its lowest level in more than three years amid the war of continuous tariffs, and this benefits from the price of bitcoin. He said ,
“Bitcoin price in dollars is about 7-8 % of bitcoin at the price of other major currencies, relative to the January 20 sum.”
The third reason behind the height BTC value today Is the increasing flow of BTC’s circulating investment funds, indicating that institutions are also built in continuous gathering. Data from Sosovalue shows that on April 21, the flows to these products reached $ 381 million, which represents the highest level since late January.
Will the BTC price be disrupted to $ 80,000?
Despite the ongoing concerns about a possible correction in the price of bitcoin after the last gathering, the king’s currency may avoid collapse to $ 80,000 due to the upward technical indicators and macroeconomic conditions.
Analyst Merlijntrader shared x climbing Bitcoin prediction On X after the currency formed a double classic style, which often precedes height. He pointed out that BTC may fall to the support test in the neckline of $ 86,900 in the near term before resuming the upward trend and may turn $ 100,000.
At the same time, the Daancrypto merchant noticed it Bitcoin can extend the assembly If this raises a decisive daily over the psychological price level of $ 90,000. However, if it fails in the MA heart for 200 days and the trend reflects the direction of lower drop from support at $ 85,000, it may be suspended to $ 80,000.
Meanwhile, the co -founder of Bitmex, Arthur Hayes, indicated that with the weakness of the US dollar, the American bond market will be in a crisis. This will also attract capital flow to BTC and support the upward trend where investors choose Greenback assets like Crypto and Gold.
Therefore, amid these factors, the price of bitcoin may avoid collapse to $ 80,000 in the near term. However, if the rejection is confronted by $ 90,000, it may decrease to test the support level of $ 85,000 and unify it within this range if the sale pressure is reduced.
Related questions (common questions)
Bitcoin price is gained due to the positive market morale. In addition, open interest and weakness in US dollar indicates that this gathering may continue.
Some analysts believe that the current BTC prices may be fake. They attributed the gains to an increase in long situations and the weak US dollar.
Bitcoin price may be disrupted to 80,000 dollars if the current upward trend is weak and loses support at 85,000 dollars.
Metouni
Muthoni Mary is an analyst and writer in the veteran encryption market that has more than three years of experience in dissecting Blockchain trends, price movements, and market dynamics. Through the acute eye of technical analysis and an in -depth understanding of the scales on the series, it provides insightful -based content that helps investors to move in the world of fast -paced digital assets.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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