
Jakarta, Pintu News – After breaking through the $110,000 mark, the price of Bitcoin is now holding above $110,700. Despite fluctuations, analysts are divided on whether Bitcoin (BTC) will reach $100,000 or $125,000.
The latest trade deal between the United States and China has eased tensions in global markets, giving a positive boost to risk assets. This has also impacted other major cryptocurrencies such as Ethereum , Solana , and Cardano which seem to be recovering soon.
US Treasury Secretary Scott Bessent announced that a trade deal between the US and China is expected to be signed within a week. This announcement follows the meeting held between President Donald Trump and President Xi Jinping, which was said to be very productive.
The deal is expected to further boost investor confidence and strengthen stock markets and other risky assets, including cryptocurrencies. Not only does this deal have the potential to improve trade relations between the world’s two largest economies, but it also gives new hope to the cryptocurrency market. Investors are now more optimistic about the global economic outlook, which could indirectly boost the value of cryptocurrencies.
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A crypto analyst pointed out that Bitcoin (BTC) is currently forming a symmetrical triangle pattern, which signals potential high volatility. Based on the analysis, Bitcoin (BTC) may experience a temporary drop to test the support level at $107,500 before attempting to rise again.
This pattern suggests that future price movements will be heavily influenced by existing market dynamics. If Bitcoin (BTC) manages to break above $115,000, it could trigger further gains to reach $120,000 and then $125,000. However, if the price drops below $110,000, selling pressure might increase and the price could drop to $105,000 or even $100,000.
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The future of Bitcoin (BTC) is still full of uncertainty. Despite optimism relating to the US-China trade deal, market sentiment remains mixed. Gains from the current momentum could be extended, but any sign of weakness could trigger renewed selling pressure and challenge investor confidence.
Investors and analysts alike are monitoring market developments to see if Bitcoin (BTC) will continue to follow a positive trend or experience a decline. Investment decisions today depend heavily on how global markets respond to various economic and political stimulus.
With various dynamics at play, the cryptocurrency market, particularly Bitcoin (BTC), is showing remarkable resilience. The US-China trade deal may be the catalyst the market needs to continue its bullish trend or face a correction. Market participants should still be wary of sudden changes.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s 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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