Forecasts for this week were downward, but BTC It started to decline with a delay. The price is above the key $80,400 support level and losses of around $2,000 are visible. If the inflation report coming today is also negative, increasing concerns about interest rate policy may push cryptocurrencies lower.
Bitcoin decline
with the USA of Iran The failure to reach an agreement to end the war had a negative impact on cryptocurrencies. Bonds rose as the price of oil rose again, undermining hopes that the Strait of Hormuz would open in the short term. Iran gave a similar response to its response in April, declaring that the process that had been going on for weeks was nothing but a waste of time.
While the markets continue to reduce their expectations that the Federal Reserve will cut interest rates this year due to the ongoing conflicts in the Middle East, the potential for interest rate increases will increase further in a scenario where inflation is high. Currently, the possibility of an increase is becoming more dominant for the rest of the year.
President Donald Trump met with his national security team to discuss next steps in the conflict, including the possibility of new military action, as talks with Tehran remain deadlocked. Describing the agreement as “in intensive care”, the only thing Trump can do to finish this job before the midterm elections seems to be a major attack that will persuade Iran to agree to the agreement. However, as Iran says it will attack everything from the internet cables passing through the Bosphorus to the energy infrastructures of the Gulf countries, the escalation of tension could start a war that will last for years.
Bitcoin price prediction
Watching analysts’ evaluations with a delay sometimes broadens your perspective. For example yesterday BTC When it was around 81 thousand dollars, Ali Martinez shared his ideas about the next stage. The 200-day SMA at $82,500 is a strong resistance for BTC and the analyst wrote that the price will determine the direction depending on the reaction here.
“A break above this could trigger a rally towards $94,000, but a retest of the 50-day SMA at $75,000 is likely in case of rejection.”
For now, BTC is targeting $78,500 and $75,000 with closes below $80,400. If inflation data If it comes at or above expectations, this is probably what we’ll see. But since Bitcoin loves surprises, you should never be sure of anything.
