Bitcoin

Rise

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin’s recovery after the halving event is being boosted by easing geopolitical tensions.</li> 
 <li>Positive effects linked to the halving are yet to be priced into the market, according to ETC Group Head of Research André Dragosch.</li> 
</ul>  
<h2 id="bitcoin-s-recovery-amid-easing-geopolitical-tensions">Bitcoin’s Recovery Amid Easing Geopolitical Tensions</h2> 
<p>Bitcoin’s value increased by approximately 1.7% over the past 24 hours, mirroring a recovery in global equities. The leading cryptocurrency was trading at $66,002 at 6:12 a.m. ET. This resurgence signifies a reversal of last week’s market sentiment, which was affected by concerns over a potential escalation of conflict in the Middle East. </p> 
<p>Last week, the global crypto hedge fund beta saw significant downward reversals, and there was a dominance of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> long futures liquidations. However, according to André Dragosch, Head of Research at ETC Group, crypto assets have bounced back from the losses sparked by geopolitical tensions, especially after the Bitcoin halving. </p> 
<h2 id="post-halving-market-predictions">Post-Halving Market Predictions</h2> 
<p>Dragosch presented data from an in-house “cryptoasset sentiment index” that showed a recovery from a year-to-date low induced by last week’s geopolitical tensions. He also suggested that any positive performance effect linked to the halving has not yet been factored into the market. Further, he predicted that any such effect might only begin to appear about 100 days after the halving event. </p> 
<p>He explained that the supply deficit caused by the Bitcoin halving tends to accumulate over time and is relatively insignificant in the very short term. On Monday, Bitcoin experienced a rise alongside equity indices. The European STOXX 600 increased by 0.25%, while the U.S. pre-market S&amp;P 500 futures showed a 0.36% increase. The FTSE 100 in London, a commodities-heavy index, rose around 1%, making it the biggest gainer among large European benchmarks.</p>

Analyst: Bitcoin’s Post-Halving Rise Aided by Easing Global Conflicts

Съдържание

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