Bitcoin continues to show growth, reaching $93,000, which may indicate the end of a 52-day bear market.
Bitcoin Rally and Its Market Impact
Bitcoin (BTC) remains above $93,000, signaling a possible conclusion to the bear market that bottomed at $74,400. Professional traders have yet to change their investment strategies, as indicated by futures and margin market data.
Financial Environment and Its Influence on Bitcoin
Bitcoin's 10% rally from April 20 to April 24 coincided with a shift in rhetoric from U.S. President Donald Trump regarding high interest rates of the Federal Reserve. As a result of economic uncertainty, Deutsche Bank has lowered its year-end S&P 500 target by 12% to 6,150.
Long-Term Prospects for Bitcoin
Prolonged consolidation of Bitcoin above $90,000 builds pressure on bear traders, which might lead to liquidating short positions and potentially breaking the psychological barrier of $100,000.
The Bitcoin market continues to show steady growth, which gives investors new hopes for emerging from the bear trend. The situation in financial markets and actions from major players may significantly influence future price directions.
