Bitcoin Price Forecast: Bullish Momentum Points Towards $90,000 and Beyond
Bitcoin is currently trading above $87,400 with a recent recovery of 4.25%. Predictions by Arthur Hayes point to a potential rise to $110,000 before a possible retracement to $76,500, driven by the Fed’s dovish policies and significant ETF inflows. The price must maintain support levels around the 200-day EMA to target $90,000, with bullish indicators noted.
Bitcoin (BTC) currently trades above $87,400, reflecting a 4.25% recovery last week. Arthur Hayes, co-founder of BitMEX, forecasts that BTC may reach $110,000 before experiencing a correction to $76,500. This bullish outlook is supported by the US Federal Reserve’s (Fed) dovish stance on inflation and recent inflows into Bitcoin spot Exchange Traded Funds (ETFs), which recorded $744.30 million last week.
The market is reacting positively to news regarding the White House’s revised approach to tariffs, which may ease some investor concerns. This policy adjustment aims to forgo certain industry-specific tariffs, focusing instead on levies targeting specific nations that constitute the majority of US trade. Such developments may contribute to Bitcoin’s upward trajectory, as suggested by Hayes’ predictions.
Institutional demand for Bitcoin appears to be revitalizing. Following a week characterized by significant outflows, Bitcoin spot ETFs witnessed a total net inflow of $744.30 million. This reflects a promising sentiment, potentially lowering sell-side pressure and encouraging further price recovery for Bitcoin.
Bitcoin recently stabilized above its 200-day Exponential Moving Average (EMA), closing above this threshold multiple times. If Bitcoin sustains support around the $85,519 level, it could make a run toward the key psychological target of $90,000. A successful breach and close above $90,000 could trigger an extended rally towards the March high of $95,269.
The current market indicators present a mixed bag; the Relative Strength Index (RSI) indicates increasing bullish momentum, while the Moving Average Convergence Divergence (MACD) suggests a positive trend ahead. Conversely, a failure to maintain support could lead Bitcoin to test its next support level at $78,258.
In summary, Bitcoin (BTC) shows resilience and potential for upward movement, with key forecasts suggesting a target of $110,000 bolstered by favorable financial conditions and increasing institutional interest. Market dynamics, including ETF inflows and tariff policy adjustments, are pivotal in shaping the cryptocurrency’s trajectory. Investors should remain vigilant, as the sustainability of support levels will be crucial for guiding future price movements.
Original Source: www.fxstreet.com
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