This is the first time in a long time that Bitcoin has come so close to reversing its decline. BTC rose as high as $76,000 and is stalling above $75,000 at the time of writing. Negotiations have reached such a point that engaging in bluffing games from now on will harm both sides and they have to get results.
USA and Iran
The talks are expected to start again by the weekend at the latest, and the work of the mediator countries has accelerated these days. Israel and Lebanon The meeting between them started about 1.5 hours ago. Iran was severely beaten and opened the way for a compromise that could convince domestic politics. The USA, on the other hand, is aware that prolonging the process and continuing the conflict for years will not benefit either its economy or its politics.
trump After saying that this would be over in 4-6 weeks, the process did not progress as expected. The prolongation of the process is to the detriment of both parties and since there is no time left to play bluff games, the markets are waiting for the continuation of negotiations under the shadow of the ceasefire for a permanent agreement and a prolongation of the ceasefire in the worst case.
Time is running out
Michael Saylor After a long time, this week he announced the purchase of $ 1 billion BTC again. CryptoQuant CEO wrote in his post today that Saylor may have acted quickly to buy at a low price, “perhaps because time was running out.” Saylor and institutional ETF investors are running out of time to buy Bitcoin at a price close to its average cost basis, and this is confirmed as Bitcoin pushes $76,000. In the long run, purchases below average cost are expected to yield profits.
for weeks of Bitcoin We are talking about the channel in which it is stuck and since the decline started, the second step is about to be completed. Bitcoin will either form the third step and form a new bottom below $53 thousand, or it will break the current resistance level and return to $80447.
Reaching these levels for the first time in 28 days BTC It has only done this twice in the last 73 days. So if we are going to see a breakout, it has to happen very soon. If there will be a retreat and a third attempt is made (for a break), the retreat will not last long and will not be as deep as feared.
Now Bitcoin is at the decision point and corporates are hopeful. The continuation of the ceasefire is imperative and there is no room left for bluffing. Of course, Trump is full of surprises and it is uncertain what he will do tomorrow, but when we look at the future from today, the reasonable scenario seems to be that we will avoid deeper bottoms.
