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Analyst: Bitcoin Could Rise to $112,000 if it Holds $108,000 Support Level
Summary: According to Decrypt, the market is currently focused on global macro events this week, including the annual policy forum of the European Central Bank and the appearance of Federal Reserve Chairman Powell on Tuesday. Despite the relatively stable price of Bitcoin, signals from derivatives and on-chain markets suggest that market volatility may be returning. Traders ...
According to Decrypt, the market is currently focused on global macro events this week, including the annual policy forum of the European Central Bank and the appearance of Federal Reserve Chairman Powell on Tuesday. Despite the relatively stable price of Bitcoin, signals from derivatives and on-chain markets suggest that market volatility may be returning. Traders are closely watching changes in the policy statements of major central banks, which could affect overall risk appetite in both crypto and traditional markets.
Analyst Axel Adler Jr. stated that whales are moving large amounts of funds into centralized exchanges, a pattern that, combined with decreasing exchange reserves and weakening stablecoin inflows, typically signals that the market is about to experience significant volatility. As long as Bitcoin holds the $108,000 level, the basic scenario is for continued upward movement, with a target of $112,000.
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Link: Analyst: Bitcoin Could Rise to $112,000 if it Holds $108,000 Support Level [Copy]
