Bitcoin (BTC) did not pass unharmed at the United States entry into the conflict with Iran. Contrary to the narrative that it would function as a “hedge” in times of crisis, the cryptocurrency followed global aversion to risk, fell along with traditional markets and hit US $ 98,200 On Sunday (22), the lowest value since early May.
”The intensification of geopolitical tensions has raised risk aversion in markets, generating a strong capital migration to traditional refugees, such as dollar and Treasuries (American Treasury titles), which has directly affected Bitcoin, ” said André Franco, CEO of Boost Research.
On the morning of Monday (23), the largest cryptocurrency on the market returned to operate close to $ 101,000, recovering part of the weekend losses, but still far from its Historical maximum of US $ 111 thousandregistered in May. Short -term expectation, however, follows negative.
“When analyzing the flow, it is possible to observe that there is still a liquidity vacuum in the price of the asset, then suggesting that the price continues the fall in search of the support of $ 94,700,” said Ana de Mattos, technical analyst and partner trader of Ripio.
Is it worth buying in low? What to expect in the long run?
Despite the troubled scenario, institutional investments in cryptors continue to grow. Regulated funds from managers like Blackrock, Fidelity, Grayscale, Bitwise, Proshares and 21shares captured US $ 1.24 billion Last week, according to data from the Coinshares platform.
With this, the crypto funds accumulate ten consecutive weeks of net input, adding US $ 14.1 billion in the period. This year alone, the volume already reaches $ 15.1 billion – new historical record. The total assets under management in these products reaches US $ 176 billion.
“Despite the short -term challenging environment, the positive 10% flow in Bitcoin ETFs signes that part of the institutional market still sees value in asset as long -term protection and opportunity,” said Guilherme Prado, Bitget’s country manager.
Projections remain positive for the price of Bitcoin, with house analysts like Vaneck, Standard Chartered and Fundstrat suggesting that BTC could reach between $ 180,000 and $ 250,000 this year.
For experts, exposure to cryptocurrencies can make sense in a diverse wallet, provided that the risk limit is respected. The common recommendation is to allocate up to 5% of the portfolio in this type of asset.
Pressure in altcoins
Like bitcoin, other cryptocurrencies also retreated in the face of tension in the Middle East, but outlined partial recovery. The Ethereum (Ethi) fell up to $ 2,111 – lower level since early May – and solana (SUN) has played $ 126, lower since April.
If the fall continues, ETH can look for supports at $ 1,860 and $ 1,620, with resistance in ranges of US $ 2,400 and $ 2,520, according to Ana. In the case of Sol, the $ 126 region is considered a purchase zone and can signal resume up to $ 138 and $ 147.
“However, if there is a new downtime, the price of Solana can seek the supports of the $ 118 and $ 105 liquidity regions,” said analyst.
