Bitcoin Koers sinks briefly below $ 104k, but rally of 25% beckons

Of Bitcoin course (BTC) In the last 24 hours, it dropped shortly below the $ 104,000 border. The decrease was due to increasing uncertainty about the upcoming interest meeting of the US Central Bank, the so -called FOMC Meeting. Geopolitical tensions, including the conflict between Iran and Israel, also play a role in the current risk-avoiding behavior of investors. However, the course of the Bitcoin course shows one striking pattern that occurred more often in the past. If history repeats itself, the largest cryptocurrency could rise in value by 25%.

Bitcoin course test crucial support level

Technical indicators point to a possible turning point around the area from $ 102,000 to $ 104,000, exactly the area in which the BTC race managed to sink short in the last 24 hours. This is seen as an important level of support. Was the course Hold up here, a recovery to $ 112,000 would be on the table, which would bring the coin around his current All Time High.

With the current geopolitical tension, a possible decrease in the market is not unlikely. According to the analyst Adler JR will remain very calm on the Bitcoin network at the time. Although that may sound negative, this behavior is historically a good sign. The last times that this pattern performed, the BTC price managed to increase in value by 25% in just 6 to 8 weeks, which would bring the Bitcoin rate to around $ 130,000.

$ 412m to Bitcoin ETFS despite war threat

In addition, there is another reason for optimism. Despite the rising tensions between Iran and Israel, large investors continue to put massive money in the BTC Exchange Traded Funds (ETFS), according to data from Sosovalue. Last Monday no less than $ 412 million in new capital flowed to American Bitcoin ETFS, which has since risen the total inflow since the launch has since risen to $ 46 billion. These funds continue an impressive six -day series.

Blackrock’s popular IBIT ETF was again the big winner with $ 266 million dollars inflow, followed by Fidelity’s FBTC with $ 83 million. Grayscale’s GBTC is still doing a lot less well and saw only $ 13 million coming in. In total, the Bitcoin ETFS now represent around 6.13% of the total market capitalization of Bitcoin. According to experts, this is a clear sign that institutions see BTC more and more as a long -term hedge, even in times of geopolitical unrest (or perhaps precisely because of that).