Forecasts for BTC to USD
### BTC/USD Outlook:
The BTC/USD rate is currently below its recent average and near recent lows, suggesting a bearish outlook. Recent developments are placing downward pressure on Bitcoin, as institutional investments are showing signs of withdrawal amidst a volatile market.
#### Key drivers:
- **Rate gap**: The increase in U.S. jobs data supports the strength of the USD against Bitcoin, as a stronger dollar typically dampens demand for cryptocurrencies.
- **Risk/commodities**: Ongoing price volatility in oil markets can influence broader risk appetite, potentially affecting Bitcoin prices as many investors reassess their positions.
- **One macro factor**: A forecast decline in December’s durable goods orders could indicate future economic pressures that may also impact investor confidence in cryptocurrencies.
#### Range:
BTC/USD is likely to drift within the recent range as it tests lower extremes of its trading pattern.
#### What could change it:
- A significant positive shift in institutional interest could boost demand for Bitcoin.
- Increased economic uncertainty or negative developments in U.S. markets could further pressure Bitcoin prices.
