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Bitcoin price has decreased more than -8.8 % since Friday when Bybit suffered from the largest psalm in history. The leading digital assets reached 99,493 dollars at the end of last week, only to decline to about 91,500 dollars at the time of the press, which represents a decrease of -5.5 % since Monday. This stagnation not only breaks the Bitcoin attempt to keep more than $ 95,000, but also puts it about 97 -day trading loss between 91,000 dollars and $ 102,000. It is worth noting that the price of Bitcoin has decreased below the descending trend channel that was in the play since January 20.
What is the following for Bitcoin?
Arie Paul, co -founder and head of investment at Blocktower Capital, presented a wide vision about the Bitcoin path and the broader macroeconomic environment. in mail On X, Paul touched on the possibility of continuing the weakness of the stock market and its impact on digital assets: “Aswani takes: shares for 4-15 months of pain (I will guess 9 months) linked to the policy shrink government (mostly definitions and hairstyles). Then it is a political question – Is Trump manage a “surrender” and turned into a severe inclusion? But just low confidence guess me.
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When converting the focus to encryption, Paul stressed that although cryptocurrencies may still display short -term connections with stocks, they are inherently on various periodic rhythms: “What does that mean for encryption? I still think that encryption and stocks are in different sessions , But this does not negate the shorter term. 2021, may decrease before stocks.)
Speaking about Bitcoin, Paul expects that the leading cryptocurrency “will act like a mix of gold and S&P 500”, adding, “If gold remains strong, indicating that Bitcoin will outperform the loss of stocks, but perhaps not much. It seems that the recovery to 73 A thousand dollars-77 thousand dollars, maybe added there.
Despite the short -term fluctuations, Paul is still optimistic: “I am still confident of the coded symbol market, but this looks increasingly different from the previous sessions, and perhaps slower and longer. My basic condition is that Crypto will lead the role of general inflation, so may resume Crypto Bull Run in 6 months and the arrows appear in 9. The dates provided are just indications of my guess. Weighing the exact time frames. “
Bitmex founder, Arthur Hayes, also took to X to warning From an imminent drop batch. He referred to the mechanics of the boxes circulating on the Bitcoin Stock Exchange (ETFS) and the arbitration of the futures market as possible engines to increase the pressure pressure.
“Bitcoin Goblin Negoming: Many IBIT holders are the hedge boxes that have long been the future of Etf Short CME to earn a larger return than the place where you are funded, the American short treasury secretary. CME. Ust that you will relax during the US hours and make its profit.
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It is worth noting that the research company 10x Research Published On Monday's analysis is that although the Bitcoin -circulating investment funds are carried by Blackrock's IBIT product – he got 38.6 billion dollars in net flows since its launch in January 2024, many of the capital may not represent clear bets at high prices BTC, compatible with the Hayes statement.
“Although Bitcoin's investment funds have attracted 38.6 billion dollars in net flow since its launch in January 2024, our analysis indicates that only $ 17.5 billion (44 %) represents only a long buyer. The company indicated that the majority – 56 % – It is more likely to be associated with arbitration strategies, as the short company compensates for future contracts.
Before the continuous price decreased, the market technician Tony “Taur” Sevirino, to caution One of the fluctuations waving on the horizon in Bitcoin, noting that the daily Bolinger domains were hitting very narrow-a pattern often followed by a large price swing: “A decision will be made soon in Bitcoin, where the daily Bollen Bollen teams arrive. In the middle of 2023, The record narrowing of a 200 % increase in more than 200 days.
With the presence of Bitcoin that exceeds $ 91,000, the market is still reeling from the historical penetration of bybit, the market is at a pivotal turn. Signs of graph, total economy cracks, and the relaxation of complex trading strategies, attract a cloudy future with a possible extension of this recession to a range of 73,000 and $ 77,000 in the coming months.
Meanwhile, this should not appear the beginning of the bear market. Chris Bernes, a partner in the weak owner VC, Stuck Via X: “In mid-2021: BTC decreased by 56 %, ETH decreased by 61 %, Sol decreased by 67 %, and many others 70-80 %+. The urine we are going through is not unprecedented.
At the time of the press, BTC was traded at $ 90,537.
Distinctive image created with Dall.e, Chart from TradingView.com
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