After reaching a new high, the price of bitcoin once again fell below $100,000. Analysts explain this decline by the launch of a new Chinese AI startup DeepSeek. However, on Thursday, bitcoin recovered, and its opening price was $104590.58. Cryptocurrency prices are expected to rise further in the future.
Recently, Trump Media and Technology Group (TMTG) announced the launch of Truth.Fi, a new financial services brand, that plans to invest up to $250 million in bitcoin and other financial products. The project, which will launch after securing regulators’ approvals in 2025, is expected to significantly impact the cryptocurrency market by boosting interest in bitcoin.
In addition, institutional interest in cryptocurrency is rising. Aleš Michl, Governor of the Czech National Bank, proposed to invest up to 5% of its reserves in Bitcoin. This idea could strengthen bitcoin’s status as an alternative investment, given the total state reserve of $146 billion. Kazakhstan’s President Kassym-Jomart Tokayev also called for the establishment of infrastructure and a legislative framework for the legal turnover of digital assets, which could attract investment and improve the market situation.
The dollar index is recovering after the US Federal Reserve’s decision to hold interest rates steady at 4.25-4.5%. The regulator paused monetary easing, which began in September, after the rate cut in December by 25 bp. According to the Fed’s press release, economic activity continues to grow steadily, the unemployment rate has stabilized, and inflation remains at elevated levels.
Technical analysis of the market suggests the predominance of bulls in the market. The MACD indicates a persistent but slowing growth of prices, while the RSI is not near the overbought or oversold zones, indicating the potential for further growth.
Current recommendation:
Buy in the range of 101350.00-104244.00. Take profit – 106772.00. Stop loss – 101349.00.
