$BTC
Currently, Bitcoin is experiencing high volatility, with projections suggesting it could reach $110,000 in the near future. Market optimism is fueled by technical indicators and an increase in capital inflow. However, some analysts warn of a possible "technical drop" in the short term, where the price could fall below $100,000 before the release of the Consumer Price Index (CPI) on May 13. Despite this potential correction, it is expected to be brief due to positive news and the continued accumulation of Bitcoin by institutions.
Market sentiment has been optimistic, especially after Bitcoin approached $100,000 in early May, generating expectations of a significant increase in its price. Institutional adoption and macroeconomic factors, such as trade negotiations between the United States and China, are positively influencing the price. Additionally, there has been a positive net capital flow into Bitcoin ETFs, which also contributes to confidence in the asset.
It is crucial for Bitcoin to maintain its price above $93,000 to avoid significant pullbacks. The recent price correction has been attributed to profit-taking and risk reduction by investors, although the market structure remains bullish. On-chain analysis data suggests that while new demand remains strong, the lack of follow-through could lead to a consolidation period.
In summary, Bitcoin is at a critical moment, with the possibility of reaching new highs, but also facing risks of short-term correction. The combination of technical factors, institutional adoption, and the macroeconomic context will play a fundamental role in its evolution in the coming weeks.
