Analysis Company Shares Short-Term Outlook for Bitcoin (BTC)! Explains What’s Needed for an Uptrend!

Bitcoin (BTC) started the new week below $70,000. While the direction of the US-Iran conflict is being closely watched in both BTC and global markets, an analysis firm has assessed the current situation.

QCP Capital, a Singapore-based cryptocurrency analytics firm, stated that Bitcoin has entered a consolidation phase and is outperforming gold and stocks.

“BTC briefly dropped to $65,000 during quiet hours in Asian markets, but quickly recovered.”

It is currently trading steadily around $67,000 and is maintaining the stability it showed at the beginning of the week after the typical weekend decline.”

Although Bitcoin started the new week with a recovery, it needs strong momentum to continue its upward trend from last week, especially given that the US-Iran conflict remains unresolved.

Analysts also noted that the 10-day pause Trump set for a possible military operation against Iran would end on April 6.

At this point, analysts note that BTC’s short-term trend will remain largely news-driven.

On the macroeconomic front, high oil prices and risks to critical shipping routes continue to support expectations of stagflation. According to analysts, even if tensions between the two countries ease, the risk of war will remain in the short term.

Finally, analysts who examine derivatives markets say that volatility remained low after the expiration of the monthly option on Friday, and investors are still inclined to buy on dips.

*This is not investment advice.

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