Andrey Poroshin, a financial analyst at Bitbanker, predicted the trajectory of bitcoin in August against the background of the absence of pronounced macroeconomic drivers and continued uncertainty. According to his professional assessment, the first cryptocurrency can temporarily test the price range from sixty to sixty-two thousand dollars to collect accumulated liquidity, followed by a steady recovery to the level of seventy thousand dollars. The current market environment is characterized by increased caution among participants, due to the neutral rhetoric of the US Federal Reserve System. The US regulator preferred to maintain the status quo on interest rates due to inflation exceeding targets, postponing key monetary policy decisions until the September meeting.

An important technical factor remains the fact that bitcoin is currently trading below the cost of mining in the United States, which is estimated in the range of seventy-three to seventy-five thousand dollars. The bankruptcy of the BitMEX cryptocurrency exchange, which the expert described as the actual capitulation of less stable retail investors, contributed to a decrease in short-term pressure on quotes. Historically, the withdrawal of so-called weak hands coincides with the formation of reversal zones and preparation for a new growth cycle. Currently, a significant amount of liquidity and stop orders of traders is concentrated in the corridor from sixty to sixty-two thousand dollars, which makes it a likely target for August testing against the background of a seasonal decline in trading activity and traditional summer vacations of fund managers.

Foreign policy factors, which previously exerted significant pressure on the quotes of digital assets, are gradually losing their influence — market participants have adapted to the current level of global uncertainty. An additional deterrent factor is the delay in regulating the industry: The U.S. Senate postponed consideration of the CLARITY Act bill until September. It is in the first month of autumn that analysts expect a return of strong price impulses triggered by new signals from the Fed and possible regulatory shifts. In parallel, steps to legalize assets are being observed in other jurisdictional markets: in Russia, the Ministry of Finance announced an early opportunity for unqualified investors to legally purchase bitcoin and stablecoins with an annual limit of three hundred thousand rubles through one intermediary.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.