Bitcoin leads a recovery, but still with doubts.
Currently, Bitcoin is hovering between 72,000 and 73,000 USD, after having risen around 20% since the lows of February close to 60,000 USD.
This shows that the market continues to have strong demand, especially from institutional investors and flows into Bitcoin ETFs.
My opinion:
* The fact of staying above 70k is an important technical signal.
* However, it is still well below its all-time high (~126k), which indicates that the market remains in a correction or consolidation phase.
This suggests a long-term bullish market, but sideways in the short term.
Macro factors are affecting the market
The crypto market is not isolated:
* Geopolitical tensions in the Middle East
* Rise in oil prices
* Strength of the dollar
These factors have generated volatility in all financial markets, including cryptocurrencies.
Interpretation:
* When the dollar strengthens, Bitcoin usually faces pressure.
* Institutional investors tend to reduce risk during times of global tension.
$BTC
Currently, Bitcoin is hovering between 72,000 and 73,000 USD, after having risen around 20% since the lows of February close to 60,000 USD.
This shows that the market continues to have strong demand, especially from institutional investors and flows into Bitcoin ETFs.
My opinion:
* The fact of staying above 70k is an important technical signal.
* However, it is still well below its all-time high (~126k), which indicates that the market remains in a correction or consolidation phase.
This suggests a long-term bullish market, but sideways in the short term.
Macro factors are affecting the market
The crypto market is not isolated:
* Geopolitical tensions in the Middle East
* Rise in oil prices
* Strength of the dollar
These factors have generated volatility in all financial markets, including cryptocurrencies.
Interpretation:
* When the dollar strengthens, Bitcoin usually faces pressure.
* Institutional investors tend to reduce risk during times of global tension.
$BTC