$BTC Bitcoin started the week with a drop to $111,000. Participants in the crypto community fear that the decline will continue.
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Sean Young, chief analyst at MEXC Research, provided a forecast for BTC and ETH for the upcoming week and discussed the prospects for the coins through 2025.
The expert began by noting that the price of bitcoin has corrected by almost 3% and has settled at $111,590. The main reason for the decline in the value of the leading cryptocurrency, our interlocutor stated, is the record outflow of funds from the BTC ETF that started in March.
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"According to the data, the net outflow amounted to $1.15 billion. Also, according to the report, the demand for BTC among investors, especially institutional ones, continues to decline, which negatively affects the value of bitcoin," noted Sean Young.
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This week, the expert is confident that the value of BTC will continue to decline for the same reasons. The outflow of funds from ETFs, although it has slowed down, has not completely stopped. At the same time, demand for bitcoin remains low. Therefore, this week our interlocutor expects fluctuations in the cryptocurrency's exchange rate in the range of $112,000-$113,000.
Sean Young also noted the decline in ETH by more than 3%. In his opinion, the decrease is caused by negative investor sentiment in the market, as well as general trends.
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"The price of ETH has traditionally decreased by September, starting from 2016. On average, the token has lost 6.24% every September over the past 9 years. This week, the price of ETH may drop to $4,300 and hold at that level until the beginning of September," the expert is confident.
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