Bond buyback impact on the crypto market and critical levels for Bitcoin
In the crypto market, which has recovered with the US Treasury's bond program, experts expect Bitcoin to sustain its position at the $80,000 threshold.
While the cryptocurrency market gained upward momentum alongside the US Treasury Department's bond buyback program, the total market value reached 2 trillion 630 billion dollars, and experts state that the $80,000 level is critical for Bitcoin in terms of sustainability.
Market Value and Bond Impact
With the expected upward movement in the cryptocurrency market gaining momentum, the total market size climbed from the 2 trillion 170 billion dollar level to 2 trillion 630 billion dollars.
It was stated that considering past peaks exceeding 4 trillion dollars, this recovery is not yet sufficient, but the main motivation behind the rise is the US Treasury Department's bond buyback program.
ETF Inflows and Short Positions
It was observed that inflows into Spot Bitcoin ETFs accelerated following the announcement that the bond buyback program would be doubled.
Following these developments, it was reported that investors increased their positions and short position liquidations occurred across the market.
Critical Levels for Bitcoin
Although Bitcoin has broken the descending trend upward, it is in the overbought zone, and sustainability above $80,000 is sought for the rally to continue healthily.
It is stated that if this threshold is surpassed, the next resistance level will be $85,450, and this situation could initiate a new journey toward $90,000.
Ethereum and Altcoin Status
It was noted that on the Ethereum side, provided that sustainability above the $2,500 boundary is maintained, targets of $2,700 and $3,000 will be monitored respectively.
It was emphasized that one percent increases occurred in Bitcoin and Ethereum dominance over the last month, and with capital shifting toward leading assets, altcoins entered a consolidation phase.
XRP and Geopolitical Risks
It was reported that the $1.42 level is an important support for XRP, and if this support is broken, the price could pull back to $1.30.
Donald Trump's signals of harsh sanctions against countries establishing commercial relations with Iran and the inclusion of cryptocurrencies in this list have brought up the possibility of geopolitical restrictions.