Forecasts for BTC to USD
BTC/USD Outlook: Bearish, trading near recent lows and significantly below the 90-day average.
Key drivers:
• Rate gap: The Bitcoin network's decentralized nature contrasts with the US Dollar's backing by the Federal Reserve, contributing to a widening gap in demand.
• Risk/commodities: Recent volatility in commodity markets is boosting demand for the safe-haven USD, increasing pressure on Bitcoin.
• One macro factor: The Federal Reserve's halt on rate cuts, despite currency pressures, adds uncertainty to the USD's stability and directly impacts BTC/USD dynamics.
Range: The BTC/USD rate is expected to drift within the recent range, as it remains sensitive to both Bitcoin-specific and macroeconomic factors.
What could change it:
• Upside risk: A surge in institutional adoption could drive Bitcoin demand higher, potentially boosting its value.
• Downside risk: Continued geopolitical tensions and a trend of investors moving away from U.S. assets may further weaken the USD, putting additional pressure on Bitcoin.
