Why Bitcoin now? BTC price is close to $ 105k because analysts say the rally has ‘room to run’
Bitcoin Btc$104,616.64 Up to $ 104,000 on Tuesday with the welcome of fresh inflation data, President Trump’s view of financial markets, and Coinbase’s integration with the S&P 500 in catalysts for advancing.
April’s consumer price (CPI) has come in cooler than expected, which could ruin the pressure on the federal reserve anxious about inflation due to tariffs. Fed Chair Jerome Powell’s scheduled speech on Thursday may provide additional policy guidance.
The rise of the mood was further raised by Donald Trump, who told attendees at the Saudi -us Investment Forum in Riyadh that the markets were “higher,.”.
Bitcoin (BTC) almost touched $ 105,000 before returning, to press a trading time by 2.4% higher over the past 24 hours around $ 104,400. Most altcoins in the CoinDesk 20 index are outedperformed. Ethereum’s ether Eth$2,676.11 Resurrection continued to advance more than 9% to $ 2,700. The restoration of eigenlayer manageer’s protocol and Decentralized Finance (DEFI) Protocol of the native token of Etherfi Tfi$1.30 Books more than 20-30% daily acquisitions.
Stocks were added to their recent acquisitions, including the NASDAQ and S&P 500 to 1.6% and 0.75%, respectively, in session nearby. NASDAQ listed the Crypto Exchange Coinbase (COIN) advanced 24% during the day as the stock is set to benefit from the S&P 500 index. Change can be released $ 16 billion in purchase of pressure For shares, Jefferies’ forecasts.
Joel Kruger, a strategic market in the LMAX Group, said the crypto market was still melting the acquisitions last week, but the rally had an additional momentum. “Currently, the market will appear to stop for breathing, however existing emotions in recent headlines suggest that this rally still has a room to grow,” Kruger said.
He pointed to a rebound in global appetite and a growing number of institutional tails. “One striking factor is the increase in the basic adoption of cryptocurrency, such as evidence of developments in US financial markets.
He also noted the improvement of emotions around the regulation. The SEC Chair Paul Atkins has pledged to make the US a hub for changing cryptocurrency, which Kruger believes to unlock a new wave of interest in the institution if followed by significant policy clarity.
Paul Howard, senior director of trading firm Wincent, shouted at that point of view, saying that as the Altcoins monitor the broader rally, the institution’s capital is likely to be more selective. “This emerging landscape appears to place a basis for increasing institutional participation,” he said in a telegram message. “The more resilient altcoin projects can benefit, while the weak can gradually phase out.”
New BTC record next month?
While Bitcoin is less than 5% from its January record prices, Bitfinex analysts noted that neutral funding rates and stable trading volumes show no froth market signs.However, BTC faces fighting around $ 104,000- $ 106,000 zone, making a brief part of a combination Basic support level around $ 98,000, they added. “The integration, which means a new high time can be delayed in June as supply/demand stabilizes above $ 100,000,” Bitfinex’s analysts wrote.
Zooming out for the next few months, Bitfinex analysts said the medium and long-term setups remain certainly bullish, setting a $ 150,000- $ 180,000 target price for 2025-2026.
“Bitcoin’s long -term perspective is the strongest before,” they wrote. “Through the sovereignty and institutional advancement of the adoption, the ETF railroads expanding worldwide, and the US framing policy more positively, the BTC is emerging in a global owner of the MacRo Reserve.”
