Main Takeways:-
- Bitcoin continued his upward trend when operating near the $ 104,000 brand on Sunday night.
- The experts said that Bitcoin could achieve a new peak of all time shortly, based on ongoing macroeconomic trends.
The largest cryptocurrency in the world showed few changes in the last 24 hours, falling 0.12% to 103,926, according to the Bitcoin price page of the block. At the beginning of the day, Bitcoin saw a temporary increase above the level of $ 105,000.
Bitcoin is currently quoted approximately 4.5% below its January peak, $ 108,786.
The Kronos research CIO, Vincent Liu, said that “Bitcoin remains close to the maximums of all time, driven by technical bullish trade signals above their mobile averages of 50 and 200 days.” More investors are getting involved and the positive perspective for 2025 suggests that Bitcoin could reach a new maximum of all time. “
On the other hand, Bitcoin’s relative force (RSI) index shows that cryptocurrency is at excessively high levels, experts said.
This does not mean that a change occurs immediately, but makes Bitcoin more likely to slow down or move sideways for a while, “said BTC Rachael Lucas market expert.” The tests and remain above the important level of $ 100,000 would be a good signal and could prepare the stage for greater growth.
Bitcoin’s continuous rise was mainly driven by the news from outside the market, especially positive updates about conversations between the United States and China, according to analysts. Concerns about a long commercial war due to high US rates were a key reason to stop Bitcoin’s last price increase.
Commercial conversations between the two important economies culminated successfully in Switzerland on Sunday, where Chinese officials said both parties have reached an “important consensus,” Reuters said.
On Monday, the Secretary of the United States Treasury, Scott Besent and the trade representative, Jamieson Greer, are ready to declare the details of the “substantial progress” made during conversations with China, according to the report.
“The current manifestation throughout the cryptography market is driven by renewed optimism on commercial negotiations between the United States and China,” said Presto Research Analyst, Min Jung, “we are observing a typical change as Bitcoin’s dominance reaches the levels of the last time they were last before the 2021 boom, and the money is beginning to go to Altcoins.”
The Presto expert added that Bitcoin’s possibilities to break his previous record of all time, depending on how commercial conversations evolved, with other growing geopolitical problems that remain a key variable.
In addition to the economy in general, the constant investments in the ETFs of Bitcoin Spot and the large companies such as the strategy that more bitcoin buy are key to maintaining the increase in prices, said Liu de Kronos.
“As macro events such as the next IPC of the USA. UU. On May 13, investors must be kept alert, be intelligent with their risks and use different strategies to handle this unpredictable market,” Liu added.
Read also:- Bitcoin increases when Trump suggests an important agreement with China
Discharge of responsibility: In Bitcoinik.com we present the most recent information in the encryption market. However, this information should not be considered as financial advice, and viewers must consult their financial advisors before investing.
