The financier spoke about the factors of pressure on bitcoin

For the second day in a row, Bitcoin remains close to the psychologically significant mark of $ 80 thousand, demonstrating limited dynamics and trading in the range of $ 77-78.7 thousand. This was announced to Izvestia on April 24 by Alexander Baryshnikov, the manager of the Mining fund at Record Capital Management Company.

According to him, the current consolidation is rather not technical, but geopolitical in nature. Increased tensions in the Middle East — including the presence of American aircraft carriers in the Strait of Hormuz, the detention of an Iranian tanker, and rising oil prices above $100 per barrel — are putting pressure on risky assets.

"The market is now extremely sensitive to the news background. Even fake messages can cause sharp movements in the range of $1.5–2 thousand in a short period of time," Baryshnikov said, commenting on the recent decline in bitcoin from $78,500 to $76,960.

Separately, the expert draws attention to the dependence of the cryptocurrency market on the dynamics of American stock indices. In particular, futures for the S& P 500 failed three times to overcome the resistance level of 7,145 points, which, in his opinion, restrains the growth of bitcoin.

The consequences of the blockade of the Strait of Hormuz may be felt before the end of the year. What the media is writing

"Until the US stock market gains a foothold above key levels, bitcoin is likely to continue consolidating below $80,000," he added.

At the same time, Baryshnikov notes the presence of long-term positive factors. Pressure from the industry is increasing in the United States: a coalition of more than 120 companies is seeking accelerated adoption of the CLARITY Act, which should delineate the powers of the SEC and CFTC regulators. This, according to the expert, can increase the attractiveness of the market for institutional investors.

According to the expert, it is rather a matter of time before bitcoin reaches the level of $80,000, but the timing depends on the stabilization of the geopolitical situation and the breakdown of resistance in the American stock markets.

On April 18, the Iranian armed forces announced the restoration of military control over the Strait of Hormuz due to the blockade by the United States. Later, Iran blocked the Strait of Hormuz from the evening of April 18 until the complete lifting of the US naval blockade.

Al Mayadeen TV correspondent Moussa Assi said on April 21 that the main obstacle to the start of the second round of negotiations is the naval blockade of Iranian ports. CNN added on April 23 that the United States had developed a course of action to attack Iranian facilities in the Strait of Hormuz in case the agreement broke down.