Bitcoin to 100 Thousand Dollars or Collapse? Why This Week Could Be Crucial for Cryptocurrencies
Summary:
Expectations are rising that Bitcoin could surpass $100,000 or experience a significant correction over the weekend.
Overall market sentiment around crypto has turned bullish now as the macro winds have been blowing in favor of Bitcoin last week. The speech of pro-crypto U.S. President Trump - including hints at a U.S. Bitcoin reserve and the cancellation of regulatory controls - has sparked a frenzy. Furthermore, the recent halt by the Securities and Exchange Commission on enforcing crypto regulations is the icing on the cake, signaling a green light for DeFi and institutional players.
Market Dynamics:
Analysts point to key resistance levels around $73,000 and the expiration of trading options which may create severe market moves. Macroeconomic factors such as inflation data, Federal Reserve policy, and global liquidity trends play a crucial role.
Community Sentiment:
The crypto community is divided — with optimistic sentiment driven by institutional buying and reservations due to geopolitical risks.
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