Jakarta, Pintu News â In recent days, the price of Bitcoin has shown a significant upward trend, reaching the $90,000 mark for the first time in almost two months.
While this rise seemed encouraging to investors, some analysts expressed doubts about the sustainability of this trend.
Leverage-driven gains and macro factors such as the declining value of the US dollar take center stage in this market analysis.
Check out the full analysis below!
According to analyst Maartunn on platform X, the recent rise in Bitcoin (BTC) price can be considered a âleverage-driven Easter pumpâ. Within 24 hours, Bitcoin (BTC) managed to add more than $2 billion in open interest, indicating increased speculation in the market.
While this may sound positive, these types of loan- or leverage-driven gains are often unsustainable and prone to sharp price corrections.
This increase is also influenced by macroeconomic factors such as the decline in the value of the US dollar, which usually encourages investors to seek safer assets such as Bitcoin (BTC). However, if the US dollar starts to strengthen again, there could be increased selling pressure on Bitcoin (BTC), which could trigger a price drop.
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Despite concerns about a potential price correction, some technical indicators and macroeconomic conditions are still showing bullish signals. MerlijnTrader analysts on the X platform point out that Bitcoin (BTC) has formed a classic double bottom pattern, which is often followed by a significant price increase.
The prediction is that Bitcoin (BTC) might drop to test the support at $86,900 before resuming its uptrend. However, if Bitcoin (BTC) experiences rejection at the $90,000 level, the price may drop to test the support level at $85,000. Here, the price could consolidate if the selling pressure eases, giving the market a chance to stabilize before resuming its uptrend.
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Investors should consider the risks associated with leverage-driven investments, especially in the context of futures trading. While short-term price increases can provide substantial profits, this strategy also carries the potential for significant losses if the market suddenly reverses direction.
Therefore, it is important for investors to diversify their portfolio and not rely too heavily on volatile crypto assets such as Bitcoin (BTC). Understanding macroeconomic dynamics and how global factors affect crypto markets is also key to making wiser investment decisions â especially when engaging in derivative instruments such as futures trading, where even small price movements can have a big impact.
Keeping up with the latest developments and utilizing analysis from experts will help investors gain a more in-depth perspective on the future direction of the market and better manage risk. For beginners who want to start investing in crypto, understanding how to list crypto on Pintu can be a practical first step to begin the journey in the world of digital assets.
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*Disclaimer
This content aims to enrich readersâ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an assetâs past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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