The financier named a key level for the growth of bitcoin

The key level for bitcoin remains around $66.4 thousand. If the cryptocurrency manages to finish the week above this value, the market will receive an additional signal to recover. The results of the coming days will show whether there is a steady demand for bitcoin and whether the level of $ 60 thousand can become a new fulcrum for the further growth of the digital asset market. Andrey Loboda, a member of the RASO and the commission on mining and blockchain technology of the Finance and Investment Committee of the Chamber of Commerce and Industry of the Russian Federation, told Izvestia on June 11.

He noted that the cryptocurrency market is completing the first decade of June in a relatively calm mode, despite the increase in geopolitical tensions and the acceleration of inflationary processes in the global economy. Over the past 24 hours, the total capitalization of the digital asset market has increased by $11 billion and reached $2.213 trillion.

According to him, new data on inflation in the United States remains one of the key factors for global markets. According to recent estimates, consumer inflation accelerated to 4.2% in annual terms, which was the highest in the last three years and more than twice the target level of the Federal Reserve System. The basic consumer price index was 2.9%.

"Only the most optimistic market participants have hopes for a reduction in the Fed's key rate by the end of the year. There is a feeling that inflation in the United States is still not under control, and the likelihood of further tightening of monetary policy remains," the expert noted.

Additional pressure on financial markets is exerted by rising yields on U.S. government bonds. The yield on 10-year Treasury securities exceeded 4.5%, which negatively affects the capitalization of American companies. According to Loboda, against this background, the correction in the US stock market has intensified: the S&P 500 index has lost about 5% over the past seven trading sessions.

Block whose: authorities will limit investments in "unfriendly" cryptocurrencies

The introduction of mandatory fees is being discussed for particularly risky assets — their issuers may block access to money.

The situation on the energy market remains an equally important factor. The price of Brent crude oil is holding above $90 per barrel amid the escalation of the conflict in the Persian Gulf region. According to the expert, investors are increasingly considering what is happening not as a temporary aggravation, but as a potential risk of structural disruptions in oil supplies affecting up to 20% of the global market. Rising energy inflation and geopolitical risks are putting pressure on all categories of risky assets, including digital currencies.

Nevertheless, bitcoin is showing resilience. In the first half of the day, the largest cryptocurrency was trading near the $62.6 thousand mark.

"The absence of a further decline in the price of bitcoin can be considered as a moderately positive signal. It is possible that some of the capital is gradually starting to flow from the stock market into digital assets. It's too early to talk about a full—fledged reversal, but the first signs of an improvement in sentiment on the crypto market are already noticeable," Loboda believes.

The expert identified three main factors that will determine the dynamics of the markets until the end of the week. Among them are the decisions of the European Central Bank on interest rates, the development of the situation around the Strait of Hormuz and further US actions against Iran, as well as the publication of new data on the producer price index (PPI) and the US labor market.

Investors will pay special attention to the technology sector. According to Loboda, an important event of the week may be the expected IPO of SpaceX, the reaction to which will assess the willingness of investors to increase the share of risky assets in their portfolios again after a period of high volatility.

The cost of bitcoin dropped below the $60 thousand mark. As of 19:20 Moscow time on June 5, the value of the cryptocurrency was estimated at $59.8 thousand. This is the lowest figure since October 2024.