YouHodler chief of markets Ruslan Lienkha shares his thoughts on Bitcoin’s movements over the next few weeks.
Bitcoin has rebounded to $87,400, its highest level in over two weeks—does this indicate a sustainable recovery, or are we still in a broader consolidation phase?
From a technical analysis perspective, Bitcoin’s price has climbed just above the 200-day moving average, which could indicate the potential for a sustained rebound. However, I would exercise caution for now, as the S&P 500 remains below its 200-day moving average. A confirmed breakout above this level in the S&P 500 would also serve as a strong bullish signal for Bitcoin.
Bitcoin ETFs saw $10 billion in outflows earlier this year—do the recent inflows indicate renewed institutional confidence, or is this just a temporary shift?
At the moment, this is a temporary shift. Gold continues to reach new all-time highs, signalling that a risk-off approach remains dominant, particularly among institutional investors. A key indicator of sustained capital inflows into risk assets like Bitcoin would be a period of consolidation or a correction in gold prices.
What are the biggest catalysts that could push BTC past $90K? Will it be institutional adoption, regulatory clarity, or macroeconomic shifts like Fed rate cuts?
Macro factors remain the primary drivers of the market at the moment. Federal Reserve decisions and inflation, both shaped by current economic policies and conditions, play a crucial role in determining risk-on and risk-off sentiment across financial markets.
Could the upcoming Bitcoin halving still act as a major price catalyst, or has its impact already been priced in by the market?
Yes, it effectively raises the cost of mining BTC, which in turn indirectly constrains supply over time. It has a long-term impact on the price; however, more substantial factors are driving price movements at this particular moment.
Ethereum is outperforming Bitcoin daily but remains 17.2% lower month-on-month—what does this divergence say about broader market confidence?
ETH has been in a bearish trend since mid-December, and the recent rebound appears to be merely a correction. The current level, around $2,000, is a strong support zone that could shift the trend. Overall, the significant gap in market capitalization between BTC and other cryptocurrencies—despite the introduction of ETH ETFs—suggests that, for institutions, everything outside of Bitcoin remains highly speculative and exotic.