Bitfinex analysts: Bitcoin course must stay above $ 102,000

With everything that is going on in the world, Bitcoin (BTC) is anything but easy. The military confrontation between arch rivals Israel and Iran has been in control of the crypto for almost a week now.

Yesterday was a tough day with a tough fall below 104,000 dollars. As a result, many investors are worried again. But according to analysts from Bitfinex, that is not necessary as long as the rate managed to stay above $ 102,000.

Markt starts sales pressure

Israel and Iran have been in a bloody conflict for six days and Bitcoin is going under that. Before Israel had fired rockets to Iran for the first time on Thursday night, you lost $ 110,000 to get one bitcoin. Now the price is almost $ 6,000 lower.

Yesterday the Bitcoin price even fell to a low point of $ 103,400. No less than 14 hours in a row, the race closed at a lower level, something that had not happened since 2019. Donald Trump seems to have been the most important driver, who would consider joining the Israeli attack.

For many investors, that was enough reason to get out of the market. But Bitfinex analysts wrote yesterday in a report that if Bitcoin knows above 102,000-103,000 dollars, Hand Haven, “This indicates that the market is effectively absorbing the sales pressure.

If Bitcoin still looks up lower prices, then it is very important to at least defend the psychological level of $ 100,000. BTC has been moving above this magical border since 8 May. That is no less than 41 days. A record.

They state that there are still ” some downward risks’ ”, because of macro-economic uncertainty and the escalation between Israel and Iran. Yet they see a risky but possible lucrative opportunity for investors.

For now, all the eyes of investors are aimed at tonight. At 8 p.m. the US Central Bank will arrive with a new interest rate decision, which is explained immediately afterwards in a press conference. Most likely the interest remains the same, but as always there is hope that chairman Jerome Powell hints for a policy.

BTC funds continue to attract capital

Despite all the uncertainty, the American BTC stock market funds simply continue to rake large amounts of capital. Data from Farside Investors show that the spot ETFs welcomed new capital for the seventh trading day in a row yesterday. The total net intake over this period is just over $ 2 billion.