Причини зошто собирот на цените на Bitcoin (BTC) е веројатно завршен

Bitcoin price witnessed a marvelous 40% rally in January as traders expect a turnaround of events. The BTC price hit a high of $23,282 last week, marking a 5-month high despite the FTX contagion that continues to impact the market sentiment.

Bitcoin price currently trades at $22.8K, trading sideways in the last two days. The 24-hour low and high for Bitcoin are $22,387 and $23,056, respectively. While analysts expect Bitcoin price to hit $25k this month, the rally may not happen.

Исто така прочитајте: Цената на биткоинот (BTC) ќе достигне 25 илјади долари или 21 илјади долари, што е следно?

5 Reasons Why Bitcoin (BTC) Price Hitting $25K Is Unlikely

Here are the reasons why the Bitcoin rally is likely over and the BTC price may not hit $25k this month.

1. European Central Bank Monetary Tightening

The European Central Bank plans to deliver 50 bps interest rate hikes in the next two meetings in February and March. ECB President Christine Lagarde asserts the need for further tightening and revising rate hike targets to bring down inflation.

Meanwhile, the European Parliament’s Economic Affairs Committee votes on a draft law seeking banks offering crypto services to hold more capital to manage risks from crypto assets.

2. US Federal Reserve FOMC Meeting

САД федералните резерви to announce a rate hike in the next FOMC meeting on February 1. While the ИПК and jobs data signal a smaller rate hike, economists expect another 50 bps rate hike. Invests may have to wait a little longer for the Fed pivot.

Како на пример CME FedWatch Алатка, the probability of a 25 bps rate hike is 97.2%. The reading has decreased from the last day as investors await the fourth-quarter GDP data due on Thursday.

Bitcoin price stabilizes below $23k ahead of the ECB and U.S. Fed rate hike decision. Thus, traders are unlikely to take any decision before these events.

3. US Dollar Index Volatility

The U.S. dollar index (DXY) will continue to show volatility ahead of the importance week. The DXY currently moves below 102 and is likely to jump higher ahead of the rate hike decision by the U.S. Federal Reserve.

A rise in DXY will make the Bitcoin price to dive lower and bring a correction in the broader crypto market. Moreover, the recent policy decision by Japan and European Union have weakened the US dollar and the Fed will most likely thwart it.

4. The Bitcoin Fear and Greed Index Plunges

Индекс на страв и алчност на Bitcoin is neutral at 50. The index has dropped in the last few days as traders anticipate a decline in Bitcoin price due to possibilities of profit-taking and “sell the news” strategy.

While the BTC price is in an early пазар на бикови, traders are unlikely to trade in the current market conditions.

5. Bitcoin Technical Indicators Signal Strong Resistance

Bitcoin price is trading above the 200-day moving average (DMA). Analysts expect a move to 200-WMA, which is near $25k.

In the daily timeframe, Bollinger Bands breakout to subdue in the coming days and Bitcoin price can fall below $21,500. Moreover, the RSI is moving in the overbought zone and is likely to fall lower. Other indicators also signal a decline in Bitcoin price.

Исто така прочитајте: Here’s When Bitcoin Bull Market Cycle Starts

Вариндер е технички писател и уредник, ентузијаст за технологија и аналитички мислител. Фасциниран од непушачите технологии, тој го сподели своето знаење за блокчејн, криптовалути, вештачка интелигенција и Интернет на нештата. Тој е поврзан со блокчејн и индустријата за криптовалути значителен период и моментално ги покрива сите најнови ажурирања и случувања во крипто индустријата.

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