Crypto analytics firm Swissblock believes Bitcoin (BTC) has hit its lowest point. They argue that a period of consolidation is underway.
Consolidation and the $80,000 Mark
Swissblock, posting on X (formerly Twitter), suggests Bitcoin might need to dip back down to the $80,000-$82,000 range to continue this consolidation. They see consistent rejection around the $86,000 mark, indicating a tightening range. This slight pullback, they believe, could actually set the stage for another price surge.
Trade War and Market Sentiment
Swissblock also ties Bitcoin’s potential bottom to the ongoing trade war. They claim the market has already factored in the trade war narrative and that major market indices are starting to recover. They point to recent tariff news as an example of reduced market volatility and a lessening of fear, suggesting a controlled retreat in trade war tensions. This, they conclude, signals a bottoming out for both indices and Bitcoin. A temporary dip, they stress, doesn’t mean a crash, but rather an opportunity.
Current Price and Disclaimer
At the time of writing, BTC is trading at $85,101. It’s important to remember that this is just one firm’s opinion and that investing in cryptocurrency is inherently risky. Always do your own research before investing.
