Bitcoin $95,447.5 price At the time of writing, it is stalling at $94,950, and this situation is still depressing for altcoins. The Fed minutes will be announced soon, and we may see things here that indicate that interest rate cuts will be slow, to the detriment of cryptocurrencies. When I talked about this risk in the weekly review on Sunday, I did not foresee such a big decline. So what do market experts think?
Is the Cryptocurrency Rising Over?
Kyle points to institutional demand and says that the negativity surrounding cryptocurrency investors does not mean the end of everything. Since the drop, BTC purchases by MicroStrategy and other institutions have continued. The chart below shows that demand continues, but suggests that markets may recover again.
“Institutions wasted no time following the massive BTC drop on December 21st, collecting over 34,000 BTC worth under $95k in the last 30 days.
Individual demand may be at a 5-year low, but on-chain accumulation has remained stable since June 2024.
“Institutions are playing for the long term.”
Ali Charts draws attention to the support level that investors should watch in the short term. The person who watched the four-hour chart for the return in BTC price wrote:
“TD Sequential, Bitcoin (BTC) offers a buy signal pending a price recovery on the 4-hour chart. But everything will depend on whether BTC can hold $93,500 as support!”
Trump and DXY
The dollar index is rising with Trump’s slogan “America great again”. The USA, which promises to impose additional customs tariffs on China and many other countries, also claims many places, including the Panama Canal. We’re going to have a fantastic four years with Trump.
When he took office in his previous term, he said Trump was very strong. Behind DXY has weakened significantly. In his speech yesterday, he said that interest rates are too high and DXY is still rising. According to the analyst with the pseudonym Crypto Rover, what happened after 2017 will repeat itself.
“trump He stated that interest rates were very high yesterday. The last time he called something too high before taking office was the dollar. We all know what’s next for Bitcoin…”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
