Bitcoin may fail the $ 90,000 level

Coindesk analysts believe that bitcoin BTC $96,639.61 Bitcoin -1.01% Market capitalization $1.92 trillion VOL. 24 hours $2.01 billion may lose the $ 90,000 level due to three main factors. The first is the reduction in fiat liquidity: the balance of the US Treasury’s general account has increased from $ 623 billion to $ 800 billion, which could lead to tighter control of financial flows and more difficult conditions for markets, including cryptocurrency.

The second factor is the Donald Trump administration’s delay in creating a national bitcoin reserve. Investors had hoped for a quick implementation of this initiative, but so far the process has been limited to its evaluation. This has caused disappointment among cryptocurrency supporters who expected active support from the government.

The third risk is the technical picture of the market, in particular the bearish divergence of the Relative Strength Index (RSI) on the 14-week chart, which is similar to the situation observed before bitcoin’s fall after the 2021 record. The signal may be canceled if the downtrend line breaks out.

Nevertheless, despite the challenges, Standard Chartered predicts that bitcoin will rise to $ 112,000−130,000 in the next two months due to the inflow of institutional funds and increased risk appetite. If the forecast comes true, the market capitalization of bitcoin will reach $ 10.5 trillion, which will exceed the value of companies such as Apple and Microsoft. Earlier, Ark Invest stated that bitcoin could reach $ 1.5 million by 2030.