Bitcoin (BTC) has set a new historic high, exceeding $111,000. Analysts share their insights on the current state of the market and potential risks.
Analysis of the Bitcoin Situation
After four challenging months, Bitcoin has resumed its upward trajectory, reflecting rising interest from traders. Singapore-based company QCP Capital believes that the current upward trend in BTC is robust and characterized by low volatility.
Support for Price Growth
Analysts noted that the Bitcoin rally is supported by improved structural fundamentals. Following the new peak, a brief pullback occurred due to profit-taking, but buyer interest quickly returned. Notably, 1,000 call contracts were aggressively purchased at the 130K strike in September.
Macroeconomic Risks for BTC
Despite the positive market sentiment, analysts point out the existing macroeconomic risks, such as renewed tariff concerns, rising U.S. yields, and a stronger dollar. These factors could introduce volatility, especially for altcoins.
In conclusion, Bitcoin continues to strengthen; however, tangible macroeconomic risks may affect its price in the near future.
