The crypto market demonstrates instability amid global risks and economic uncertainty. This article provides an analysis of current market trends.
Overview of the Current Crypto Market Situation
The crypto market has shown a declining trend over the past week, with the overall market dropping 1.06% to $3.25 trillion on June 18. Bitcoin (BTC) fell to a daily low of $103,396, representing a 5% decrease for the week.
Geopolitics and Impact on Cryptocurrency Market
The price drop in cryptocurrencies is largely linked to the conflict between Israel and Iran. Increased geopolitical tensions and macroeconomic uncertainty negatively affect the investment climate. The Federal Reserve's decision on interest rates is also anticipated, which could impact the market.
Bitcoin Outlook and Support Levels
According to Arthur Aziziov, founder of B2 Ventures, without positive news, Bitcoin could retreat to the $90,000-$84,000 range. Key levels to watch are $112,000 and $100,500. A breakout beyond these levels could lead to significant market changes. If positive sentiment emerges, including possible rate cuts, Bitcoin may reach $128,000 by the end of the year.
The current situation in the crypto market remains under pressure from global risks and macroeconomic uncertainty. Investors continue to monitor developments and potential positive signals from regulators.
