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Despite the strong macro trends, bitcoin derivatives show investors’ confidence in maintaining recent price gains.
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Bit Digital’s Pivot To Ether is afraid that other miners can also interpret their BTC reserves.
Bitcoin (BTC) Briefly fell below $ 100,000 on Monday after Iran launched attacks on the military bases of the United States in Qatar. Although the price on Wednesday was reflected in $ 108,000, the sentiment on the BTC derivatives became cautious, suggesting that traders are less confident about further upwards. But are there valid reasons for this fear of the Bitcoin price?
In the center of Bitcoin permanent contracts The financing rate dropped to the lowest level in seven weeks. In neutral markets, long positions are usually paid to maintain lever effect, so negative rates are unusual. Interestingly, this happened even though Bitcoins gathered at $ 108,000.
Rather than focusing only on consequences, such as the declining demand for lever positions, it is necessary to consider possible causes of bear financing. Part of erosion in trust stems from the Global Trade War initiated by the US in April. While temporary hulls have been established, some are close to expire, including an agreement with the euro area, set out in error 9 July.
US President Donald Trump was widely criticized for reversal of the course during business negotiations. According to Washington post administration analyst has created more than 50 customs policy change Since he took the office. As a result, investors are increasingly worried that the business conflict could intensify.
Tariffs, hype AI and decreasing the profitability of bitcoins
To infinity, the American gross domestic product added a year -on -year decline of 0.5% on the first quarter of a year -on -year decline based on the final official data published on Thursday. CNN attributed an unexpected contraction to a massive trade deficitAs North American companies have increased supplies before the expected increases in tariffs.
Despite this, Bitcoin traders are frustrated that US stocks with small capitals showed resistance, while the BTC remains significantly under a mark of $ 112,000.
The Russell 2000 index, which excludes the 1,000 largest US companies, has threw itself at a four -month maximum. Given that many investors still classify bitcoins as an asset to risk, concerns surrounding “ruthless artificial intelligence spend awards with a high sky” as a ceiling at the cost of bitcoins.
Gartner Consulting Analysts note The fact that “the most AI agent projects are now are experiments at an early stage or evidence of concepts that are mostly driven by hype and are often incorrectly used,” as Yahoo Finance says. As a result, it can be expected with more careful investors’ body that some profits over $ 105,000 can be expected.
Related: Bitcoin Bulls Gain Edge, Target 110k $ 20 B Monthly Exception options
Another source of risk comes from a growing number of companies that have added bitcoins to their balance sheet. An unexpected step became a bit of Digital (BTBT), a New York Bitcoin mining company listed on NASDAQ, announced on Wednesday to reveal its mining infrastructure and BTC Holdings buy ether (Eth) instead.
As of March 31, Bit Digital organized 24 434 ETH and 417.6 BTC in reserves. This development has caused concern that other miners can also dispose of their BTC positions, especially from mining The revenue has dropped At a two -month minimum, according to a cryptoquant report.
While macroeconomic conditions still support potential bitcoins historically, due to increasing pressure on central banks, accepting free monetary policies. Thus, the threat of temporary correction below $ 100,000 remains a real possibility.
This article is for general information purposes and is not intended and should not be considered legal or investment advice. The opinions, ideas and opinions expressed here are the author himself and do not necessarily reflect or present the opinions and opinions of Caintelegraph.
