The cryptocurrency market has been extremely volatile in the past 24 hours
Bitcoin's reaction after the major incident
In the last 24 hours, the cryptocurrency market has experienced extremely violent fluctuations. Bitcoin hit a crucial resistance level but was then strongly rejected. This process led to a massive sell-off, causing the total liquidation of long positions to exceed 400 million USD in just one day. This unsuccessful breakout has put investor sentiment in an unstable state, spreading across other cryptocurrencies.
The impact of international conflict and monetary policy
The major factor driving this volatility is the United States' deep involvement in the ongoing conflict between Iran and Israel. Analysts are concerned that if the situation escalates, the global financial market — including the stock and cryptocurrency markets — could fall into crisis, leading to a stronger decline. Amidst increasing fears of a third world war, investors are moving to safe assets like gold and USD, putting significant pressure on cryptocurrencies like Bitcoin.
News about policy and Bitcoin price predictions
The currency market and the reaction of central banks
In the meeting of the U.S. Federal Reserve (FOMC), interest rates were kept unchanged instead of being reduced as expected. This decision slows down the market's recovery, diminishing positive sentiment. This makes the possibility of a prolonged bear market more likely, and the timing to enter a strong bull cycle may be delayed.
Predictions about the short-term trend of Bitcoin
Amidst the unstable context, many investors hope that Bitcoin will have a significant upward momentum, potentially approaching the level of 200,000 USD or even 250,000 USD by the end of the year. Some predictions from Bitcoin-holding businesses since 2022 suggest that the price will fluctuate between 140,000 and 150,000 USD by the end of the year.
Short-term Bitcoin price analysis
Price charts and important support levels
The price of Bitcoin temporarily reached ₹101,000, then attempted a slight recovery. However, market sentiment remains weak, with trading volumes lower than the previous weekend. Currently, experts are focusing on monitoring the support level of ₹100,000 — a crucial level that needs to be maintained to avoid a deeper correction.
Resistance at ₹102,600 and the possibility of recovery
Bitcoin is attempting to break through the resistance level of ₹102,600. If successful, recovery and regaining upward momentum may occur. However, if the price does not maintain support at ₹100,000, the next downtrend is entirely possible, accompanied by a significant decrease in trading volume.
Source: https://tintucbitcoin.com/bitcoin-150k-usd-van-con-co-hoi/
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