Spotlight

Bitcoin reached a new all-time high of ~$112,000 last week, while altcoins also benefited and experienced a slight upswing. The reason for this renewed upswing was, on the one hand, the positive outlook for a final ‘peace’ in the trade dispute between the USA and China and, on the other hand, another inflow of almost USD 3 billion into Bitcoin ETFs in just one trading week. This underpins the long-term positioning of institutional investors in the market for digital assets. This ensures an establishment in the centre of the financial world. This was also supported by the inclusion of Coinbase in the S&P 500.

Digital Asset News

Bitwise with positive forecast: Bitcoin is on track to receive over $400bn in investment inflows by 2026 as ETFs, governments and corporates could increasingly adopt BTC as an investment asset.

Debt and bond markets boost Bitcoin: While warning signs are flashing in global debt markets, Bitcoin is recovering, defying investor expectations and changing the role of BTC in the financial system. Rising bond yields reflect growing concerns about fiscal stability and inflation, prompting some investors to question the traditional safe-haven role of US Treasuries.
Bitcoin is defying conventional risk models and rising not in spite of deteriorating macroeconomic conditions, but possibly because of them.

Digital assets as a risk hedge: According to data from European crypto investment manager CoinShares, cryptocurrency investment products saw a sharp increase in inflows last week, bringing the year-to-date total to over $10bn. James Butterfill, head of research at CoinShares, said total assets under management (AUM) in crypto ETPs briefly hit an all-time high of $187.5bn, reflecting strong investor interest.
‘We believe that growing concerns about the U.S. economy, triggered by Moody's downgrade and the resulting spike in Treasury yields, have prompted investors to seek diversification through digital assets,’ Butterfill wrote.

Digital Asset Market

Market review and outlook

The past trading week was characterised by contrary market movements, in line with the movements of the global financial markets. While Bitcoin initially provided further optimism by establishing support above half of the psychologically important $100,000 mark, this was followed by a strong rise to a new all-time high within a few days due to global political positivity, which corresponds to an increase of ~10%. After a slight easing and low trading volumes at the weekend, the start of the week was again positive, which means that the all-time high could possibly be tested again in the next few days. Based on fundamental developments and news, it was a relatively quiet week. This underlines the fact that market rises are characterised by long-term volume and the proportion of short-term speculation is likely to be low. As a result, the current market phase is a healthy one and could therefore be of longer duration.

Chart technology

Bitcoin's new all-time high established a new peak at $112,000, with strong support at ~$106,500. Long-term forecasting around new all-time highs is always opaque, which is why support levels should be looked at to anticipate a continuation of the trend. If Bitcoin moves above half of the support levels this week, further upswings are likely. If the trend breaks, a volatile decline is to be expected. In the event of a slightly positive consolidation of Bitcoin, altcoins could show a cyclical outperformance and rise more strongly; if temporary setbacks occur here too, altcoins are likely to fall more sharply than Bitcoin.

Bitcoin upside targets: $112,000, $115,500, $118,000
Bitcoin downside targets: $106,500, $104,000, $101,500
Ethereum support zone: $2,440
Ethereum resistance zone: $2,735