* Weekly Decline: The cryptocurrency market overall has experienced a reduction this week. The total market capitalization of cryptocurrencies has decreased by 3.39% compared to last week. The 24-hour trading volume has also declined.
* Bitcoin below $104,000: Bitcoin has breached the $104,000 level, with a weekly drop of approximately 1.8%. Despite this, some analysts see bullish potential, suggesting it could hold above $100,000 and that the 'trend recovery' is a good sign. However, the chances of exceeding $120,000 before July are low.
* Ethereum also on the decline: Ethereum, the second-largest cryptocurrency, has experienced a reduction in its trading volume and has fallen about 4.9% in the last seven days. Its price remains stable around $2,400.
Key News and Analysis:
* 'Weak hands' selling Bitcoin: It has been reported that 15,000 Bitcoins have been moved at a loss by short-term holders, which could increase the likelihood of BTC price falling below $100,000.
* Impact of the Fed and Geopolitical Tensions: The possibility of Bitcoin reaching $120,000 is discussed if the Federal Reserve lowers interest rates due to tariffs and the geopolitical situation (such as a potential war).
* Regulation of Stablecoins in the U.S.: Circle and Coinbase experienced a significant increase following the approval of a law that promotes the regulation of stablecoins in the United States, indicating progress in regulatory clarity for these types of assets.
* Long-term outlook: Despite current corrections, the general long-term sentiment for Bitcoin remains optimistic. A gradual rise to $181,935 by 2030 and $230,098 by 2035 is projected, driven by institutional investment and technological advancements.
In summary, this week has been marked by a general correction in the crypto market, with Bitcoin and Ethereum experiencing declines. However, analyses point to a possible recovery in the future, and the regulation of stablecoins in the U.S. is positive news for the industry.
