The end of the “bottoming out” phase. Five key things you need to know about Bitcoin this week

The end of the “bottoming out” phase. Five key things you need to know about Bitcoin this week

This week brings major changes to the crypto markets. Analysis suggests that Bitcoin may have found its short-term bottom, but macroeconomic uncertainty and geopolitical tensions are still keeping prices on edge. Prepare for volatility and important events that can affect your strategy.

1. Bitcoin on the verge of new lows

The price of BTC fell below $86,000 this week, its lowest level since the beginning of the year. Traders are watching to see if it can defend this level or if we are in for deeper declines. If it closes the week below $87,500, it risks going even lower – perhaps around $80,000.

2. High volatility on the horizon

Analysts warn that we are in for a turbulent week not only in the cryptocurrency markets, but also in forex, commodities and bonds. Trader Michaël van de Poppe believes the current sell-off could be an opportunity for bold investors as the market prepares for worst-case scenarios.

3. Liquidation and capitulation of short-term holders

Data shows that almost $750 million has been withdrawn from the market in the past 24 hours. Short-term holders are showing signs of capitulation, which could mean the market is nearing a bottom. However, some experts warn that the decline could continue despite attempts to reverse.

4. Important macroeconomic decisions

The Federal Open Market Committee (FOMC) meeting is in the spotlight, as it announces its interest rate move on Wednesday. Rates are expected to remain steady, but Chairman Jerome Powell’s remarks could bring surprises. Traders are also watching international factors, such as the Fed’s move on the Japanese yen and global trade tensions.

5. Bitcoin’s future: Is a bottom near?

Traders, such as analyst BitQuant, believe that the “bottoming out” phase is now over. According to them, Bitcoin could find its long-term high in the coming weeks, which could be as high as $145,000. However, most of the market expects uncertainty to lead to further declines.

Summary: While it seems that Bitcoin may have found its short-term bottom, the market remains tense. Volatility, geopolitical tensions, and macroeconomic decisions will continue to determine the direction. If you want to be prepared, watch the events and be careful - the coming weeks may still shuffle the cards.

*This is not an investment recommendation.

The Coingarage Team