Bitcoin at $ 94,000: should we fear a brutal relapse?

While the Crypto market begins a slight withdrawal at the start of the week, Bitcoin recorded a moderate drop to 94,132 dollars. A technical correction which comes after a peak close to the $ 98,000 last Friday. Should you see a simple temporary shortness of breath or a deeper alert signal?

Bitcoin reverse

After flirting with the $ 98,000 last Friday, Bitcoin (BTC) began a technical correction on Monday by falling to 94,132 dollars, a drop of 1.45 % over 24 hours. The global crypto market also drops by 1.06 %, reaching a capitalization of $ 2,930 billion, while the equity markets remain generally stable.

This BTC fold Intervenes after a week marked by a strong rebound, propelled by the good US employment figures for the month of April. However, the uncertainties linked to the pricing policies of Donald Trump seem to weigh on the appetite for the risk. Result: investors turn to refuge values ​​such as gold – up 2.38 % to 3,320.60 dollars per ounce – or bitcoin, despite its volatility.

Speaking or alert signal?

This decline in bitcoin occurs in a context where several factors could significantly influence its evolution this week.

• First, the decision of the American Federal Reserve (Fed) on interest rates, expected on May 7, is closely scrutinized. Jerome Powell's comments could cause significant movements on the market and investors certainly remove their bitcoin by precautionary measure.
• Then, the fears of recession fuel demand for Bitcoin, especially in the face of trade tensions between the United States and China. In this climate, the BTC Attracts investors seeking to protect themselves against economic risks. For this specific case, this drop under 94,000 dollars would only be temporary.

In addition, this correction does not discourage institutional actors, because Michael Saylor announced the purchase of 1,895 BTC for around 180 million dollars. His company now holds 555,450 BTC, a strong signal of confidence in the long term value of Bitcoin.

Despite an apparent correction, Bitcoin therefore retains the confidence of major investors and remains supported by an uncertain macroeconomic context. The threshold of $ 94,000 may well be only a step before a new upward impulse, provided that the Fed does not sit an unexpected cold stroke, since Jerome Powell refuses to lower the rates.