Bitcoin has been trading sideways throughout Q2 and is now retesting the key resistance at $110K. Experts note that short-term price fluctuations may affect the future movements of both Bitcoin and altcoins.
Current Bitcoin Market Situation
Currently, Bitcoin is near the $110K level, which is critical for future trading activities. If Bitcoin can hold above $100K, this will support a positive outlook. However, if it drops below this level, the price could decline to around $88K.
Altcoin Predictions
A crypto analyst from Selected Investments urges investors to stay alert for unfolding events that could impact the market's direction. He notes that current macroeconomic conditions are significantly different from past cycles, making historical analogies less predictable.
Impact of Global Liquidity on the Crypto Market
Current liquidity conditions in the global market remain tight, but changes are anticipated. Analysts predict that rate changes may occur in the coming months, potentially increasing market liquidity and positively affecting Bitcoin and altcoins.
Investor interest in altcoins remains low despite recent Bitcoin gains. However, current conditions create an opportunity for market turning points, and many analysts believe that increased activity in altcoins may be expected in the coming months.
