Forecasts for BTC to USD
BTC/USD Outlook: Bearish, as it is currently below its recent average and near recent lows, weighed down by tariff concerns affecting the US dollar and volatility surrounding Bitcoin news.
Key drivers:
• Rate gap: Bitcoin's central bank actions don't directly influence rates, unlike the US Federal Reserve, which is expected to ease rates, impacting the dollar's strength.
• Risk/commodities: Recent volatility in oil prices may indirectly pressure the US dollar, while Bitcoin remains sensitive to broader market trends.
• One macro factor: The geopolitical tensions arising from US airstrikes in Venezuela have created uncertainty, which often leads to a weaker dollar.
Range: BTC/USD is likely to drift within its recent range as market conditions evolve.
What could change it:
• Upside risk: A sudden shift in market risk appetite could boost Bitcoin demand, pushing the rate upward.
• Downside risk: Continued tariff uncertainties and potential Federal Reserve rate cuts could further weaken the dollar, impacting Bitcoin negatively.
