Bitcoin Eyes $90,000: Between Opportunities and Challenges

Bitcoin (BTC) has shown a positive trend over the past week, with its price moving within the range of US$83,000 to US$90,000.

This bullish momentum is expected to continue, potentially pushing BTC to break through the psychological level of US$90,000 in the near future.

Factors Supporting Bitcoin’s Price Increase

Based on information we quoted from Beincrypto media, several factors are supporting the rise in Bitcoin’s price:

• Capital Inflows into Spot ETFs: The increasing flow of funds into spot ETFs indicates strong institutional investor interest in Bitcoin.

• Decline in Miner Selling: Following the halving period, miners tend to hold on to their BTC, reducing sell pressure in the market.

• Weakening US Dollar and Rising Gold Prices: These macroeconomic conditions are prompting investors to seek alternative assets like Bitcoin as a hedge.

Comparison with Ethereum: Stagnation Amid BTC’s Rise

While Bitcoin is showing strong performance, Ethereum (ETH) appears to be stagnating.

ETH’s price remains trapped within the range of US$1,520 to US$1,700. Limited activity on Layer-2 solutions and a weak ETH/BTC ratio are factors affecting ETH’s performance.

Conclusion: Market Optimism and Investor Caution

With strong bullish momentum, Bitcoin has the potential to break the US$90,000 level in the near term.

However, investors should remain cautious of external factors that could influence price movements.

Thorough technical and fundamental analysis will aid in making sound investment decisions.