Uncertainty is currently the biggest worry for investors, as it is still unclear how and when the war in the Middle East will end.
Bitcoin waiting for the end of the war?
Moreover, many indications suggest that the Federal Reserve will refrain from cutting interest rates in the coming months.
So far, cryptocurrencies have not responded to global turmoil with strong gains or, which should be pleasing, sharp declines.
It turns out, however, that bitcoin may not need the end of the Middle East war to enter another bull run.
Gracy Chen, CEO Bitget told FXMAG that the "BTC/USD price has a chance to rise even without a significant breakthrough, because bitcoin still serves as a digital safe haven amid global uncertainty".
BTC benefits from the accumulation of assets by institutional investors and the potential easing of monetary policy, and recent signals indicating easing tensions have already supported the upward trend toward the 75,000–80,000 USD range.
Geopolitical uncertainty, however, persists, which translates into Fed policy, as on April 29 the Fed kept interest rates in the 3,5%-3,75% range.
These are not favorable conditions for risky assets, and cryptocurrencies still fall under that category.
On the other hand, from May, the central bank will be headed by Kevin Warsh, a proponent of cuts. This could help cryptocurrencies, at least in terms of narrative.
Read also: Bitcoin price before a spike or crash? Expert: "The cryptocurrency began reacting unusually." Here’s how ETH/USD is doing.
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Bitcoin and Ethereum prices. Expert says what next
The quiet hero of recent weeks is Ethereum, as the ETH/USD pair has risen more strongly than its bitcoin counterpart.
Gracy Chen appreciates the importance of this key platform from the DeFi, smart contract, and stablecoin markets.
She does, however, point out that bitcoin still wears the crown. That does not mean ether cannot earn its loyal investors.
Although Ethereum has a good chance of reaping significant benefits from further tokenization development, given its dominant share in the market for tokenized real‑world assets, the next bull run will likely still be driven mainly by bitcoin, and ETH will achieve relatively better results in the middle and final phases of this trend thanks to institutional capital inflows and its utility on the network.
According to the Bitget CEO, we may soon see a stronger rebound.
In the coming weeks, I expect that if investor sentiment remains optimistic, BTC will test resistance at the 78,000–82,000 USD level, while ETH may consolidate in the 2,300–2,600 USD range before it starts to rise.
Chen claims, "In the next few months, BTC could reach above 90,000 USD, and ETH above 3,500 USD".
She emphasizes, however, that achieving this scenario requires "stable support from macro‑economic factors and favorable trends related to tokenization".
Bitcoin’s price on Thursday, April 30 fell to about 75,000 USD. After this correction, it rebounded above 75,600 USD.
Chart. Bitcoin price (BTC/USD)
Source: Trading Economics
ETH’s price was, in turn, at 2,244 USD.
Chart. Ethereum price (ETH/USD)
Source: Trading Economics
Read also: Bitcoin price (BTC/USD, BTC/PLN) disappointed! Forecasts speak plainly. The cryptocurrency will soon reach a new ATH.
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