Coinotag notes that the current direction of bitcoin creates significant opportunity for both long-term investors and market participants willing to take risks.
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The recent rise in the price of bitcoin to a two-week high may turn out to be temporary, Bloomberg reports. Uncertainty in the market is keeping investors from buying, slowing the development of the bullish trend.
26 March
According to BitMEX co-founder Arthur Hayes, Bitcoin could jump to $110,000 before dropping back to $76,500. He attributes this potential rally to the US Federal Reserve's expected shift from quantitative tightening to quantitative easing.
25 March
Bitcoin ETFs record nearly $94 billion in inflows
Institutional investors continue to pour money into Bitcoin exchange-traded funds (ETFs). CoinMarketCap notes that their net inflows totaled $83 million as of March 21. These crypto ETFs now manage $94 billion, or nearly 6% of the market cap.
24 March
According to analytics provider CryptoQuant, sentiment in the bitcoin market has deteriorated to its lowest level since January 2023. The Bull Score index, which assesses market activity, liquidity and demand, has dropped to 20. This is well below the level needed for sustained growth.
21 March
Concern about slowdown in US economy may support cryptocurrencies – Macquarie
Analysts at investment bank Macquarie shared their expectations of the potential growth of cryptocurrency assets amid a slowdown in the US economy. Macquarie believes central banks’ actions and monetary policy will lead to the growth of the crypto market in the future.
20 March
Bitcoin market is bullish amid Fed’s slower unwinding
The US Federal Reserve announced on March 19 that it would be slowing down its quantitative tightening cycle. From April, the monthly sale of Treasury bills is to be reduced from $25 to $5 billion. Such a shift could ease liquidity problems for risky assets, including Bitcoin.
20 March
Bitcoin liquidity tightens as ETF inflows decline
Bitcoin has faced a tightening of market liquidity following the recent BTC peak at $97,000 in February. Meanwhile, inflows into bitcoin-backed exchange-traded funds (ETFs) have plummeted more than 54% from the cycle high. This indicates a drop in investor interest in bitcoin, Coinotag reports.
19 March
Bank of Korea rejected adding bitcoin to its foreign exchange reserves
South Korea's central bank has decided not to add bitcoin to the country's foreign exchange reserves. Addressing the request of Rep. Cha Gyu-geun, representatives of the financial regulator noted the excessive volatility of the cryptocurrency.
18 March
Last week saw mass outflows from Bitcoin and Ethereum ETFs initiated by investors due to the global uneasiness that has been dominating the market recently, U.Today reports.
18 March
SEC may revisit strict cryptocurrency custody rules for advisers
The US Securities and Exchange Commission (SEC) is considering revising or rejecting a proposal drafted by former Chairman Gary Gensler that would tighten cryptocurrency custody requirements for investment advisers.
18 March
Bitcoin is the first and most commonly used cryptocurrency in the world. It holds a prominent place in the digital economy and draws the attention of traders and investors. High volatility and a wide range of influencing factors make the forecasting of its price complicated and requiring complex analysis.
Successful bitcoin trading is based on analyzing market trends, fundamentals, and technical factors.
Key elements that determine the value of bitcoin include:
- Macroeconomic indicators such as Federal Reserve decisions, inflation rate, economic stability of major countries.
- Cryptocurrency regulations, which are the laws regulating digital assets, tax implications, and possible restrictions regarding cryptocurrency mining and trading activities.
- Market equilibrium, including the volume of bitcoins mined, the activity of major market players known as crypto whales, and the degree of institutional investor involvement.
- Geopolitical situation, reflected by economic restrictions, international crises and instability, which increase the interest in bitcoin due to its role as an alternative asset.
- Technological development, with updates to Bitcoin protocols, implementation of solutions improving scalability and security, along with the adaptation of new technologies such as artificial intelligence.
Major investors and funds also have a considerable impact on the movement of bitcoin prices. Their massive purchases or sales can cause sharp fluctuations in the exchange rate. In addition, the general sentiment in the crypto market determines the dynamics of BTC, creating periods of high activity and deep corrections.
Forecasting the price of bitcoin is a complex task, as it is formed under the influence of many factors. Successful trading strategies and investment decisions require a thorough analysis of the macroeconomic situation, politics, and investor sentiment.
