Key points:
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Despite strong macro trends, Bitcoin derivatives still show investors’ confidence in maintaining the recent price increase.
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BIT Digital’s Ether’s hub raises concerns that other miners may also uninstall their BTC reserves.
Bitcoin (BTC) A brief decline of $100,000 on Monday after Iran launched an attack on U.S. military base in Qatar on Monday. Although the price rebounded to $108,000 by Wednesday to Wednesday, sentiment in the BTC derivatives market has become cautious, indicating that traders are less confident about further gains. But is there a legitimate reason to worry about the Bitcoin price crash?
On Wednesday, Bitcoin Permanent contract The funding rate fell to its lowest level in seven weeks. In neutral markets, long positions are usually maintained as leverage, so there is little negative rate. Interestingly, this happens even if Bitcoin rally reaches $108,000.
Rather than focusing only on the consequences (such as weakening demand for leverage positions), consider the possible reasons for the capital rate that goes out. Part of the erosion of confidence stems from the global trade war initiated by the United States in April. Some are approaching expiration when setting up temporary trenches, including agreements with the euro zone, set to Mistakes July 9.
U.S. President Donald Trump has been widely criticized for turning his courses in trade negotiations. According to analysts at the Washington Post, the Trump administration has enacted more than 50 tariff policies Change Since he took office. As a result, investors are increasingly worried that trade conflicts may intensify.
Tariffs, AI hype and Bitcoin miner profitability decline
In addition to anxiety, the GDP in the first quarter fell 0.5% year-on-year, according to final official data released Thursday. CNN attributes unexpected shrinkage to large-scale transactions deficitas North American companies escalate inventory ahead of expected tariff rate hikes.
Still, Bitcoin traders are frustrated by the resilience of small U.S. stocks, while BTC is still below the $112,000 mark.
The Russell 2000 index did not include 1,000 U.S. listed companies, and rose to a four-month high. As many investors still classify Bitcoin as a risky asset, concerns surrounding “resilient AI spending drives high-priced valuations” have become the upper limit for Bitcoin’s price.
Gartner Consulting Analyst Famous “Most agent AI projects are currently early experiments or proof of concepts, driven primarily by hype and often misused,” Yahoo Finance reported. So with a more cautious investor posture, some profits are expected to exceed $105,000.
Related: Bitcoin Bulls gained an edge with a target of $110,000, $20b per month
Another source of risk comes from an increasing number of companies adding Bitcoin to their balance sheets. The unexpected move comes as Nasdaq-listed New York Bitcoin mining company Bit Digital (BTBT) announced Wednesday that it aims to divest its mining infrastructure and BTC Holdings Buy Ether ((eth) On the contrary.
As of March 31, BIT Digital held 24,434 ETH and 417.6 BTC in its reserves. This development has raised concerns that other miners may also liquidate their BTC positions, especially since mining Income has dropped According to a password report, there will be a two-month low.
Given the growing pressure on central banks to adopt loose monetary policies, macroeconomic conditions still support potential Bitcoin. Therefore, temporary correction of the threat of $100,000 remains a practical possibility.
This article is for general information purposes and is not intended to be considered legal or investment advice. The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent Cointelegraph’s views and opinions.