Changpeng Zhao believes that Bitcoin could reach a million dollars in this cycle. The founder of Binance is extremely optimistic, especially since the Bitcoin price is struggling to return beyond $ 100,000.
According to Coinshares data, investors are clearly back and they bet on cryptos, but exchange volumes have been decreasing for several months. We go around the situation in the May 7 bulletin!
The Bitcoin course bounces more than 2 % in 24 hours
The BTC could experience the volatilitybecause the Fed meets today to rule on rates. There Fed should not lower the ratesthey should stay in a range between 4.25 % and 4.5 %. Upstream of the decision, the price of Bitcoin is up more than 2 % in 24 hours ::
| Pair | 1h | 24h | 7d | 1m | 3m | 6m |
|---|---|---|---|---|---|---|
 BTC/ETH |
-0.10% | 0.61% | 0.51% | 5.44% | 52.48% | 101.90% |
 BTC/USDT |
-0.10% | 2.22% | 1.61% | 24.69% | -1.18% | 27.00% |
Bitcoin performance in the face of different pairs. Source : Coincheckup
Now, the king of cryptos is up1.6 % in a week and 24.7 % in a month. The BTC/ETH pair, it evolves at the increase for six months (+1200 %). Capitals continue to go overall to Bitcoin.
Decreased exchange volumes on the Spot market since December
In 2024, the exchange volumes were increasing as a monthly on exchange platforms. It must be said that Bitcoin managed to exceed his 2021 ATH, and that he went to get the $ 100,000. In addition, the sharp increase in the same attracted many investors.
But since December, the exchange volumes on the Exchange Spot market tumble as a monthly. The fall of the BTC under the $ 80,000 has cooled traders, and theinterest is at the lowest.
To hope to regain growth in volume level, as in 2024, the Bitcoin can exceed his last ATHand that Altcoins find up bullish volatility. For some time, the Altcoins are quite febrile. For example, over the previous week, the sector ofArtificial Intelligence (AI) is the only one to have evolved favorably.
The BTC course could exceed $ 100,000
The king of cryptocurrencies has reboundedand he managed to iron beyond mobile averages 9 and 18 in 4 hours. From then on, the course goes to the next Resistance at $ 99,000and in the event of a fall, he could resume on the mobile averages:
In the event of the resistance, the course could find the Level at $ 103,000. On the other hand, in case of Rejection around $ 99,000the course could return to $ 92,000. For its part, the RSI tries to break the downward trendline. If the break is formed, the Momentum would go bullish.
The recent fall under $ 80,000 has led to a drop in interest, as exchange volumes have been decreasing since December. A return beyond $ 100,000 could be positive for altcoins, and in this case, exchange volumes could leave. In parallel, the same has dropped well since December, but they have been the most efficient assets since early 2024.