Specialists RBC Crypto Analyzed the situation in the market and appreciated the prospects for the movement of the Bitcoin course for the next seven days.
“Sustainability of the cryptorrhist to external fluctuations”
Gis Mining General Vasily Girya
From June 30 to July 5, Bitcoin added about 1%in price. The growth was formed in the form of a stable influx of money in spotes ETF and the persistent decrease in the balance of bitcoins on exchanges. All these are sustainable demand signals from long -term investors. The interest in the flagship asset is as high as before, against the background of bets on the continuation of the soft monetary policy of the Fed and the instability of global currencies.
Ethereum showed a more noticeable dynamics, adding about 4% per week. Support for the course provided the growth of volumes in the Defi segment, as well as positive expectations for the further development of ETH 2.0. “Ether” retains the status of one of the key assets for institutional investors who work in the Web3 and smart contracts.
Among the growth leaders are a number of altcoins with a strong foundation (SUI, Hype, TRX, HBAR) and PEPE as one of the largest memcoids. Hypothetically, the growth of the course of large altcoins indicates the displacement of investors’ interest in the direction of projects with sustainable demand and technical development.
The expectations of a global decrease in the rates of the US Federal Directorate become good for confident growth in cryptocurrency. The White House strongly presses the chairman of the Federal Reserve Power Powell, then threatening him with a quick substitution, then simply rejecting any arguments in favor of observations. The last June statistics on the employment market in the States turned out to be strong, and in the standard approach of the Fed would be used as an occasion to do nothing and observe.
But times have changed. US President Donald Trump requires decisions, and no matter how much they will ultimately cost. In this light, there are more chances to reduce the percentage rate of the Fed than on a neutral position. These are investors in cryptocurrency and will keep in sight.
The week showed the stability of the crypto risk to external fluctuations and confirmed the interest from large players, including institutional funds, investment banks and infrastructure companies.
According to GIS Mining, in the event that the BTC price can gain a foothold over $ 110,000, the next purpose will be $ 113,000. There are more than enough grounds for jumping up.
“The condition is more positive”
Vagiz Nurullov’s managing partner VG Group
Bitcoin continues to bargain in the range of $ 100-110 thousand and does not show active movements to any of the sides. This is very characteristic of this equilibrium and low summer business activity. We saw how the risk of developing escalations in the Middle East, a conflict of a mask with Trump and the revival of the mysterious purses of bitcoins, which translated tens of thousands of coins.
We believe that the condition in which Bitcoin is now is located is rather positive, given the fact that the Fed has not yet begun to reduce bets, and the probability of lowering the price fell after such a strong report on the labor market in the United States on July 3.
In turn, we are observing great institutional demand for the first cryptocurrency and great interest from companies that begin to buy bitcoins for their balance. Summing up the above, we can definitely see the power of the asset, given the entire conjuncture and seasonality of the summer.
This condition indicates the power of the market and the potential further movement up. We do not expect that the price of bitcoin will go below $ 96 thousand in July, and we believe that the upper border will be limited to $ 116 thousand.
As part of the near future, we do not see the great potential of movement above $ 112 thousand per 1 BTC.
Be in the know! Subscribe to Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
