After a sharp decline due to geopolitical unrest, Bitcoin begins to recover, driven by new economic expectations and investment sentiments.
Market Recovery with Ceasefire
Bitcoin resumes its position following U.S. President Donald Trump's announcement of a 'total ceasefire' between Israel and Iran. BTC surged past $106,000, marking a significant recovery from Sunday’s dip below $98,500.
Bitcoin Hashrate Trends
Recently, Bitcoin's hashrate fell by 8%, prompting concerns over mining disruptions, particularly in regions like Iran. However, analysts such as Daniel Batten see no reason to panic, noting that similar drops have occurred due to weather events.
Current Bitcoin Price Expectations
Given robust institutional flows and expectations of U.S. interest rate cuts, experts suggest Bitcoin could soon reach $110,000. This optimism is supported by recent investments from major players, including MicroStrategy's $1 billion purchase of BTC.
With improving recovery trends and positive economic expectations, the crypto market continues to enhance, though further volatility remains a possibility.
