Forecasts for BTC to USD
### BTC/USD Outlook:
Bearish, as the rate is significantly below its recent average and facing headwinds from the USD's decline.
#### Key drivers:
• Rate gap: Bitcoin remains under pressure compared to the more stable US dollar, which has seen a drop due to heightened geopolitical tensions.
• Risk/commodities: Recent declines in oil prices have negatively affected market risk appetite, contributing to USD weakness.
• One macro factor: The Federal Reserve's decision to pause interest rate cuts amid a weak dollar creates uncertainty for investors.
#### Range:
Expect BTC/USD to hold below its recent average, with movements likely restricted within its volatile range.
#### What could change it:
• Upside risk: A stronger adoption of Bitcoin as a strategic reserve by US states could enhance its value.
• Downside risk: Continued geopolitical tensions leading to a further decline in USD could dampen investor confidence in Bitcoin.


