The price of Bitcoin (BTC), the main digital currency on the market, will start this week below $90,000.
As you can see in the CriptoNoticias price calculator, at the time of publishing this article, each BTC costs $89,200 on major exchanges.
The following graph provided by the CoinGecko portal shows the movement of Bitcoin over the past 7 days.
Due to a number of factors, Bitcoin continues to experience delayed and delayed pricing.
For example, last week’s initial adjustment was determined by: “Whale” behavior (Entities holding 1,000 Bitcoins or more). According to data revealed by an analysis company, BTC inflows from these parties to exchanges like Binance have doubled.
This type of movement is generally interpreted as an intent to sell or hedge. This suggests that major companies in the market have lowered their risk appetite and gone into “defensive mode” after hitting new record highs.
However, while the ecosystem’s older native actors have expressed alarm; The world of traditional finance (TradFi) takes a step forward.
This week, two giants, Vanguard and Bank of America, made changes to their boards of directors. Vanguard, which has historically been conservative and reluctant about digital assets, will finally offer Bitcoin exposure to its customers, but this is not necessarily a response to an ideological shift, but a signal of “commercial survival.” They can’t afford to be the only closed door in the neighborhood.
During this scenario, company strategy (formerly known as MicroStrategy) and its CEO Michael Saylor. continues to be a market barometer.
Despite the decline in the company’s stock and the risk of delisting from the MSCI index (raising fears of a forced sale), JPMorgan’s report was sobering by showing that: The company’s financial health is good And there will be no immediate pressure on them to liquidate their Bitcoin holdings.
Bitcoin awaits FED decision
All eyes are on what’s next Wednesday, December 10th. of The US Federal Reserve’s Federal Open Market Committee (FOMC) meeting is a potentially trend-defining event The end of the year.
According to futures markets and forecasting platforms, There is a 90%+ chance that the Fed will announce another rate cut..
Historically, lower interest rates and yields on U.S. Treasuries (which this week breached the 4% floor) favor risk assets and finite supply like Bitcoin by injecting liquidity into the system.
Therefore, if something like this happens,Bitcoin could rise in the coming days, possibly consolidating positions above $90,000 We have enough volume (and set $100,000 as our next goal).
On the other hand, if the FED’s decision turns out to be different than the market expected (which is highly unlikely), Bitcoin could be on the verge of another price crash.
