This week, Bitcoin (BTC) has seen several important developments and news, along with some price fluctuations. Here’s a summary of the key points:
Price Movements and Analyses:
* Price Decline: Bitcoin's price has decreased this week, falling below 104,000 USD, affected by geopolitical tensions in the Middle East (following Israeli strikes on Iran) and inflation fears in the United States. The price was around 104,797 USD at the time of research, with a decrease of about 2.07% over the past 24 hours, and a slight increase of 0.83% over the past seven days.
* Technical Analysis: Short-term technical analysis indicates that Bitcoin has broken through the bottom of an ascending channel, which may suggest a slowdown in the rate of increase or the beginning of a horizontal movement. There is support at 102,400 points, and breaking it may be a negative signal. In the medium term, the situation is considered "neutral" with a slight break below the support level at 106,000 points.
* Bullish Forecasts: Despite the declines, there are still bullish forecasts in the longer term. Some analysts indicate that the "buy signal" for the Hash Ribbon has appeared again, suggesting a potential price increase to at least 170,000 USD based on hash rate trends for the network. Some also believe the path to 165,000 USD is now clear.
* Ongoing Volatility: Overall, the digital currency market is experiencing severe volatility, and Bitcoin is no exception, being affected by global events and economic developments.
Important News and Developments:
* Bitcoin's Hash Rate: The Bitcoin blockchain has achieved a new milestone, reaching an unprecedented hash rate of 1.046, which may indicate a significant upward wave soon.
* Bitcoin ETF Flows: Bitcoin exchange-traded funds have seen their largest outflows since February, indicating a recent decline in institutional interest.
* Study of Stablecoins: Shares of companies like Visa and Mastercard fell after a report on stablecoins, as global companies like Amazon and Walmart are considering issuing stable digital currencies to avoid card fees. This indicates a potential shift in the payments landscape.
* Ripple News: The CEO of Ripple Labs described meme coins as "overvalued" but excluded Dogecoin, raising speculation about a potential partnership. Ripple and the U.S. Securities and Exchange Commission (SEC) also filed a joint request for the release of 125 million USD held.
* Institutional Interest: Institutional interest continues to play a role in the recovery of Bitcoin exchange-traded funds, despite recent volatility.
* General News in the Digital Currency Market:
* The CEO of Gotbit has been sentenced to prison for manipulating the digital currency market.
* Bitcoin is expected to face some difficulties in the third quarter of the year, while attention turns to Ethereum.
* Robert Kiyosaki, author of the book "Rich Dad Poor Dad," continues to buy Bitcoin.
In summary, the Bitcoin market is experiencing a period of volatility influenced by geopolitical and economic factors, but there are also technical signals and bullish forecasts in the longer term, along with important developments in the infrastructure of the digital currency market.
