According to the new report published by Bitfinex’s research team, Bitcoin $107,778.07Although the general market structure continues to remain strong, it is claimed that the crypto asset has entered a stagnation process in the price movement. The report states that Bitcoin offers the upward potential in the short term, but a significant leap in prices is not expected unless new demand waves do not occur.
Will Bitcoin rise?
The latest data indicate a decline in mobility both in Bitcoin’s trading volume and on the network. According to the details in the report, there is a tendency to consolidate or local summit in both process orders and metrics on the network. It is emphasized that the procurement pressure in the order book is weakened, the volumes have fallen and the profit realization of short -term investors has increased.
Bitcoin’s price is currently at the level of $ 109.264, while the Vietnam Trade Agreement has been supportive for rise in the last 24 hours.
Expectations and possible scenarios
According to Bitfinex researchers, Bitcoin may experience short -term rise movements, but prices seem to be higher. In the study, a new wave of demand is required for Bitcoin to reach the highest levels of all time. In addition, elements such as macroeconomic healing, strong fund flow or increase in liquidity in global markets may assume a catalyst task for rising.
Bitfinex Research Team: “Currently, there is a waiting process for Bitcoin. It maintains its structural stance and there is no risk of breaking as it is on the levels of 94-99 thousand dollars. However, for new records, either a macro relief, either strong ETF fund inputs or global liquidity explosion will be required.”
The report also stated that short -term investors made intensive sales during the last rise. It is clear that this trend causes a decrease in the transaction volume and purchase side. On the other hand, it is a hopeful detail that long -term investors continue to protect their positions.
Currently, the range of $ 94-99 thousand is an important support point and the price remains on these levels, there will be no deterioration or decrease in Bitcoin’s overall structure. However, if there is a downward breakage, investors that face the risk of further fall may turn to panic sales.
General view of the market
While a waiting atmosphere is dominated by Bitcoin, we see that market players expect a large catalyst to revive the market. In this process, the attention of investors seems to be in external factors and new fund flows that may affect the market structure.
The process related to tariffs will end on July 9th. Today, with the opening of the US market, employment data will clearly reveal the impact of tariffs. The interest route will become clear at the end of the month. When we combine all of these, it seems more logical that macro developments that have suppressed the market for 6-7 months will now give up an environment in favor of the bulls.
Bitcoin’s price movements will need to emerge a new story or development in order to see up or downward movements in the short term, otherwise the existing intervals will continue. Therefore, monitoring of external developments that may affect the market is important for investors. The current analysis emphasizes the idea that the BTC market is not open to a major deterioration at this stage, but that new driving forces are needed for upward direction.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
