Specialists RBC Crypto Analyzed the situation in the market and appreciated the prospects for the movement of the Bitcoin course for the near future.
“The script remains bull”
Gis Mining General Vasily Girya
Bitcoin is approaching $ 120 thousand. Already on July 12, the BTC rate is higher than $ 118 thousand. With an increase in seven days by more than 9%. This is a new historical maximum and the strongest weekly growth since March. For a month, BTC has risen by almost 20%.
The growth of flagship cryptocurrency this time is exclusively organic and is associated with several factors at once. The main of them is a steady demand from institutional investors, primarily through spotes ETF. It was these funds that provided the largest influx of liquidity to the cryptocurrency market in the second quarter.
Upon admission to ETF new funds from investors, management companies (BlackRock, Fidelity and other ETF operators) issue new funds of funds and are required to buy an equivalent number of bitcoins to ensure them. This creates additional demand in the market.
Macroeconomics also worked in favor of bitcoin. Market participants are laid down in the price of waiting for a decrease in the US Federal Reserve Bena in the fall. An additional factor was the strengthening of geopolitical uncertainty, including the trade risks of the United States and China, as well as the discussion of the conflict of Donald Trump with the head of Federal Reserve Jerome Powell.
The White House presses on the Fed to make the regulator reduce the interest rate. Trump constantly attacks Powell with the comments “too late”, Powell is adamant as a statue of freedom. Nevertheless, sooner or later the US monetary policy will begin to soften. Ideally, the process should start no earlier and no later than the moment when inflation, labor market and foreign policy will allow it.
At the same time in the cryptocurrency market, infrastructure growth is noteworthy. So, the hashrate of the network has updated the maximum, mining companies launch new solutions.
The academic environment also discuss the prospects of bitcoin: the model from the Journal of Risk and Financial Management suggests that bitcoin can reach $ 1 million by the beginning of 2027, if more than 1000 BTC is withdrawn from the circulation daily. This is just a script that is based on algorithms and sequences, but it is interesting as one of the options for the development of events.
According to GIS Mining, from the point of view of technical analysis for BTC, the level of $ 120 thousand remains the immediate goal. With a breakdown, an increase of up to $ 125-130 thousand is possible in the short term. However, after a strong impulse, moderate correction is not excluded, especially if the profit is fixed by large market participants.
The ruble and constantly growing in the price of Bitcoin significantly strengthened the interest of investors and institutional customers in the Russian market in the Russian market of industrial mining. In the second half of the year, this market will develop even more actively thanks to positive forecasts at the price of bitcoin.
The basic scenario until the end of the year remains “bull”: in the absence of external negativity, movement is allowed by $ 140-150 thousand with intermediate phases of consolidation.
“The foundation remains strong”
Holder Analyst Cryptobracker Cifra Markets Alexander Kraiko
Last week, Bitcoin showed confident growth from $ 109 thousand to $ 118 thousand. The main driver is a stably strong US stock market and a confident influx in spot ETF. In this week alone, the total pure flow in Bitcoin-ETF amounted to $ 2.72 billion. This indicates a high institutional interest that supports the upward trend.
BTC growth also fits into a wider macroeconomic picture-we are observing the strengthening of assets-protection, such as gold and silver, which may indicate the growing concern of investors about the stability of the US dollar. Against this background, bitcoin is increasingly considered as a digital alternative to the dollar and “new gold”.
Key events
“Cryptocurrency Week” in the US Congress, where on Monday, July 14, a discussion of several important bills will begin:
Clarity ACT – creating clear regulatory frames for digital assets;
Anti-CBDC Surveillance State Act-a bill aimed at banning a digital dollar (CBDC) and protecting the financial privacy of citizens;
Genius ACT – regulation of stablecoins and crypto -infrastructure.
On Tuesday, July 15, data on the consumer price index (IPC, CPI) will be released – this is a key indicator of inflation in the United States. High or unexpected values can strengthen the volatility on the crypto.
Forecast for a week
By bitcoin, I expect higher volatility on Monday and Tuesday – and against the background of events in the Congress and inflation data. Most likely, we will remain in the range with a possible attempt to break a level of $ 121 thousand.
According to Ethereum, there is so far consolidation in $ 3 thousand. The growth of the “ether” is possible at the level with bitcoin.
Altcoins have a total height a little stronger than Bitcoin. Bitcoin’s domination has decreased slightly, but remains in the upward trend, which limits the potential of the Alts in the coming week.
In general, I retain a bull -looking look at the market and expect a continuation of growth. However, there is one point that is alarming – this is the growing public confrontation between Donald Trump and the head of the Fed Jourom Powell. Given the “cinema” of American politics, I do not exclude that Powell can put up responsible for the accumulated economic problems.
Nevertheless, technically, according to graphs, there are no signals to the turn, the foundation remains strong, and the demand from the institutions supports the market. I think Bitcoin still has a growth space, but it is important to consider that the risk of profile worsens-since 2022, the BTC has already grown by almost eight times. Therefore, now it is especially important to be selective at the entrance points.
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.
