Bitcoin moved within the forecast that was discussed in the Saturday Review. Yesterday, a local maximum was set at 67700, but it was not possible to overcome the important resistance area at 67000-67500 and gain a foothold higher the first time, and now Bitcoin is trading around 67K.
Market capitalization 2.36 trillion, dominance index 55.90, fear index 70.
Stock markets opened neutral: Asian indices are rising, S&P 500 futures too, gold is again at its highs (above 2440). But rising 10-year yields are not good.
Today there are 5 Fed speakers speaking. The first one is at 15-45, the last one is at 21-00 Moscow time. Their assessment of the prospects for monetary policy changes will influence markets.
The main risk is geopolitics. Yesterday a helicopter carrying the President of Iran fell, and today they announced the death of him and everyone accompanying him. Considering that in May they tried to assassinate the Prime Minister of Slovakia and the Crown Prince of Saudi Arabia, it is unlikely that this helicopter fell simply because of a pilot error. And if now the ears of Israel or the United States come out in Iranian history, very serious events could happen.
For Bitcoin, important factors that influence the price will be the behavior of IBIT. Continuing the math that has been talked about could send Bitcoin to new highs within the next 10-15 days.
For further growth, Bitcoin needs to overcome the resistance area of 67000-67500.
Alts are growing, but are still significantly behind Bitcoin. Ethereum cannot yet overcome 3140-3150. Link and Pendle look better than the market. Memcoins also sank, if anyone was waiting for an entry point, you can consider it.
The priority option for today is Bitcoin in a range with a lower limit at 65000-64500 and an upper limit at 67000-67500
Alternative - consolidation above 67500
US BTC ETFs have accumulated 548,556 BTC. At the same time, only 128 days have passed since the start of BTC-ETF.
In the short term, markets are about psychology. And in the medium term, mathematics will take its toll).
In the news, a Fed representative called on the US authorities to regulate USDT. It’s unlikely that they will care now, but there may be a reason for FUD.
On the good side, there is an opinion that large companies (including tech giants) may start buying Bitcoin in May (there is a 90-day delay). Surely this will become known only in August, when the reports come out. But based on IBIT's behavior last week, the process may have already begun.
Let's see what happens with IBIT this week.
