The expert predicted the range of movement of bitcoin at $ 65 ,5-72 thousand this week.

The range of movement of bitcoin this week may reach $ 65.5–72 thousand, while geopolitics in the Strait of Hormuz remains the main risk. Alexander Baryshnikov, the manager of the Mining fund at Record Capital Management Company, told Izvestia on March 23.

"Bitcoin is in a state of compressed spring at the beginning of the new week from March 23 to March 29. After falling by 6.81% last week to $67,859, the coin is trading near $66,250, the lower limit of the 44-day ascending channel. On Monday morning, the price dropped to $67,360, and buyers are not in a hurry to pick up the asset yet due to the high uncertainty in the market," the expert explained.

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He noted that the main factor of this week is the geopolitics in the Strait of Hormuz. US President Donald Trump's ultimatum to Iran is about to expire: if the strait is not fully unblocked within 48 hours, the Americans will begin destroying the country's power plants. According to Baryshnikov, the market froze in anticipation: escalation will lead to a decrease in risky assets along with stock indexes, and de-escalation or a pause may give bitcoin a reason for a rebound.

From a technical point of view, as long as the price remains above $66,020, the channel remains in place, and the recovery scenario remains in force. A breakdown of the $65,500 level will open the way to $60,000 and call into question the growth of the last month and a half. At the same time, a return above $72,000 will reduce selling pressure and give buyers confidence.

Among the macroeconomic events of the week, the analyst highlights business activity indices on Tuesday and consumer sentiment data on Friday. A potential confirmation of inflation expectations at 3.4% could strengthen the Fed's tough stance. Several speeches by members of the regulator can also add pressure to the crypto market.

Baryshnikov told Izvestia that Iran's attacks on American bases in the Middle East had increased uncertainty and put pressure on risky assets. Stock index futures lost more than 1%, and investors began actively redistributing funds into defensive instruments, including gold and oil. Bitcoin ended the week down just 2.76%.

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