The expert spoke about possible scenarios for the movement of bitcoin before the end of the month.

Since July 6, Bitcoin has continued to trade in the range of $61,220-66,978, which indicates the continuation of the consolidation phase after the high volatility of the first half of the summer. The current sideways trend is influenced by a seasonal decrease in the activity of market participants and ongoing geopolitical uncertainty. Despite periodic statements about the conflict between the United States and Iran, the cryptocurrency market has gradually adapted to this factor and is no longer responding with such strong impulses as a few months ago. Andrey Poroshin, a financial analyst at Bitbanker, told Izvestia on July 27.

According to the expert, the long-term trend is formed not so much by short-term news as by fundamental factors.

"The first of them is that bitcoin is still trading below the cost of production of most public mining companies in the United States, estimated in the range of $ 73 thousand—75 thousand. Similar periods in past cycles have often been observed near the end of protracted phases of decline, although they do not in themselves guarantee the beginning of a new uptrend. For comparison, in Russia the cost of mining is $58,000–63,000, and in Iran, due to the low cost of electricity, it is even lower," Poroshin explained.

The second significant factor is the bankruptcy of the BitMEX cryptocurrency exchange, which for many years remained one of the largest platforms for retail traders. In previous cycles, the combination of bitcoin trading below the cost of mining in the United States and the withdrawal of large infrastructure sites from the market often coincided with the final stage of the bear market and subsequent recovery.

Locally, the technical picture looks like this: closing the four-hour candle above $66,200 will open the way to the range of $67,500-68,000. A steady consolidation above $68 thousand will increase the likelihood of a move to $72 thousand.. A loss of the $64,500 level, on the contrary, will signal a retest of the $61,000–62,500 range. As long as bitcoin remains within the range that has formed since the beginning of July, the analyst sees an accumulation of positions before the next medium-term impulse as the most likely scenario.

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.

Deputy Finance Minister Ivan Chebeskov announced on June 16 that unqualified investors in Russia will soon be able to legally buy bitcoin, ether and popular stablecoins. In addition, the deputy minister clarified that a limit of 300 thousand rubles per year through one intermediary was proposed for non-shareholders.