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The financier announced the consolidation of bitcoin against the background of macroeconomic pressure

Baryshnikov: bitcoin remains in a narrow range of $ 78-82 thousand.
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Photo: IZVESTIA/Sergey Lantyukhov
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After the May holidays, Bitcoin continues to move in a relatively narrow range of $78,754–$82,380, remaining under the influence of multidirectional macroeconomic factors. Alexander Baryshnikov, the manager of the Mining fund at Record Capital Management Company, told Izvestia on May 15.

At the beginning of the week, the cryptocurrency rose to $81,700 amid high institutional demand. However, later, the pressure was exerted by data on annual inflation in the United States, which led to a decline in quotations to a level of about $ 80,500.

Additional support to the market was provided by the decision to allow the supply of Nvidia H200 chips to China. These events reinforced the positive sentiment of investors and contributed to the growth of bitcoin to $ 81,100.

"Today, the dynamics of the cryptocurrency market is formed under the influence of several multidirectional factors at once: inflation statistics in the United States, uncertainty about the key rate of the Federal Reserve System and correlation with growing stocks of technology companies," the expert said.

According to Baryshnikov, a confident exit of bitcoin above the range of $82,300–$82,850 may open the way to the level of $ 90 thousand. However, to implement such a scenario, additional drivers are needed — a reduction in geopolitical tensions in the Persian Gulf, progress on the CLARITY Act regulatory bill in the US Senate, an influx of institutional capital and increased investment in ETFs.

The expert also admits that with a moderately positive market environment, bitcoin could reach the level of $85 thousand. already before the beginning of summer, which will be facilitated by the growth of orders in the industrial mining sector in the USA and Russia.

As reported on May 4, the cost of bitcoin during trading exceeded $ 80 thousand for the first time since the end of January. As of 05:40 Moscow time, bitcoin was growing by 2.61% and was at the level of just over $80 thousand. By 06:00 Moscow time, the cryptocurrency slowed its growth to $80 thousand (+2.64%).

Переведено сервисом «Яндекс Переводчик»

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