The price of the first cryptocurrency exceeded the level of $ 107,000 against the backdrop of capital outflows from spotes ETF and news about the riots in the United States. The experts interviewed explained which factors will affect quotes in the coming weeks.
Macrofactor
The chief analyst of Bitget Research Ryan Lee associated the current dynamics with macroeconomic events. According to him, trading negotiations between the United States and China, as well as signs of deflation in the economy of the latter, are pressed to the appetite of investors to risk.
It expects trading in the corridor of $ 100,000-108,000. A breakdown of $ 107,000 can give a new bull impulse. Upon maintaining negative moods in the markets, the price may fall to support at $ 96,000.
News background
CEO Technobit Alexander is re -considered the main driver of the market information background, not fundamental indicators.
It was repaid that the absence of a decision on trading tariffs and the preservation of the key rate of the Fed is inactive in active growth. However, hopes for its reduction in the fall and interest from the institutions create a stability zone. According to his forecast, in the coming weeks, Bitcoin will fluctuate in the range of $ 100,000-110,000, and Ethereum is unlikely to overcome $ 2700.
The interest of the institutional
The importance of institutional support agrees with CEO Crypto Summit Alexei Zyuzin. He emphasized that large players continue to consider bitcoin as a strategic diversification tool.
The speaker considers it unlikely to drop in prices below $ 98,000 with a neutral news background. Positive signals, such as progress in the trade dialogue of the United States and China or a decrease in the Fed’s rate, can push quotes.
Experts agree that the solutions for Bitcoin remain the solutions of the Fed, geopolitics and demand from large investors. In the short term, they expect the consolidation of the price in the range of $ 100,000-110,000. The exit from this corridor will depend on global events.
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Source: Cryptocurrency
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