Crypto Daybook Americas: Traders Anticipate $110K BTC Value by June Amid Market Shifts
Traders are betting on Bitcoin's rise to $110,000 by June as BTC maintains its dominance amidst market fluctuations in response to U.S.-China trade dynamics.
Overview
In the latest Crypto Daybook Americas, traders are increasingly optimistic about Bitcoin’s price, projecting it could reach $110,000 by June as BTC continues to show market resilience.
Market Context
Despite a recent dip in cryptocurrency values, Bitcoin’s status as a safe haven remains strong. Overall cryptocurrency prices dropped significantly, yet interest in Bitcoin has surged. This reflects the market’s reaction to trade tensions and mixed signals from U.S. officials regarding tariffs on Chinese imports.
Key Market Movements
- Bitcoin recently dropped from close to $95,000 to $92,200, influenced by Treasury Secretary Scott Bessent’s remarks that contradicted President Trump’s hints at dropping tariffs.
- Meanwhile, institutional interest in Bitcoin is evident through futures contracts that indicate a premium, suggesting a preference for Bitcoin over altcoins.
What to Watch
- Date: April 25, 1 p.m. - U.S. Securities and Exchange Commission (SEC) Crypto Task Force Roundtable on “Key Considerations for Crypto Custody”.
- April 30: ProShares expects its XRP ETF to begin trading on NYSE Arca.
Closing Thoughts
As market participants continue to gauge the implications of U.S. policy on trade, Bitcoin’s resilience offers a glimpse of stability in a volatile economic environment. Stay alert for further developments.
