New Bitcoin price all-time highs could occur in May — Here is why

Main meals:

• Heavy references played a role in Bitcoin’s return to $ 95,000.

• The weak bitcoin association with shares is highlighted as the origin as origin.

• The investor of the upcoming institutions contradicts the warning of retailers, and the support of a crowd of more than $ 100,000.

Bitcoin (BTC) has gained 11 % between April 20 and April 26, which indicates flexibility by keeping it near its two -month rise about $ 94,000. Follow this relief gathering signals from the Trump administration about reducing the import tariff, as well as the profit reports of powerful companies.

Bitcoin’s investor confidence has been strengthened by $ 3.1 billion of net flows to discover the boxes circulating on the Bitcoin Stock Exchange (ETFS) over five days. However, the main BTC derivatives index showed signs of a declining momentum, which raised questions about whether the target of $ 100,000 is still realistic.

Permanent bitcoin contracts are preferred by retail traders because their prices are closely affiliated with the immediate market. A positive financing rate means that buyers are pushing to maintain their positions, and therefore the reflection at this rate is usually associated with homosexual trends.

Acute negative financing rates registered on April 26 are very unusual during the bull markets, as they indicate a stronger demand than sellers. This scale has been volatile since April 14, but the sellers were excluded, as the Bitcoin price rose from $ 94,000. Since April 21, more than $ 450 million has been filtered in BTC short positions.

Some renewable confidence and bitcoin price can be attributed to the 700 S&P 500. However, despite this optimism, US President Donald Trump said on April 25 that negotiations would depend on making concessions in China, causing questioning the sustainability of recent gains.

Companies are now reporting the profits of the first quarter by the escalation of the trade war, and therefore the factors that pay the stock market and the bitcoin are different. In fact, the Bitcoin price is no longer closely related to the S&P 500.

Currently, the link is 30 days between the S&P 500 and Bitcoin 29 %, which is much lower than the 60 % level seen from March to mid -April. Although this lower link does not mean deciphering complete transplantation, since investor morale is still affected by macroeconomic factors, it appears that bitcoin is not just a technology shares agent.

I put bitcoin status as an independent origin

The gold deficit was considered to maintain its upscale momentum after reaching its highest level at all, reaching $ 3500 on April 22 as it is important for Bitcoin as an independent asset. Some merchants questioned the narration of “digital gold”, but the longer the BTC remains above 90,000 dollars, the more investors of confidence, the higher the way to achieve more gains.

Increased demand for Habbudian leverage in the permanent BTC futures is not in line with the feelings of professional merchants. Future Bitcoin Monthly Contracts avoid the fluctuation of financing rates, so traders know the costs of leverage in advance.

On April 26, the premium of the future contract increased for two months (the foundation rate) to its highest level in seven weeks, indicating an increase in interest in the upward situations. At 6.5 %, this scale remains within a 5 % neutral range to 10 %, but it is away from the descending lands.

The separation between the demand for leverage in permanent future contracts and monthly BTC contracts is not unusual. Even if the retail merchants remain cautious, the accumulation of institutions may be sufficient to pay the price of Bitcoin above $ 100,000 in the near future.

This article is intended for general information purposes and does not aim to be and should not be considered legal or investment advice. The opinions, ideas and opinions expressed here are alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.