The growth in the capitalization of the crypto market in recent days has been associated with a weakening dollar, rising gold prices and expectations of a reduction in the key rate of the US Federal Reserve System (FRS).
According to experts, an important catalyst for growth was the speech of US President Donald Trump, who expressed confidence in the imminent resolution of the trade conflict with China, calling for a softer monetary policy.
All this has increased the appetite for risky assets, including bitcoin — analysts expect further growth, especially ahead of a possible rate cut in June, with the first targets for BTC at $100,000.
On April 23, Bitcoin (BTC) quotes reached a seven-week price high, exceeding $94.5 thousand. The last time such a level was recorded was in early March. The price of BTC has slightly rolled back to the level of $ 93.5 thousand. The increase since the beginning of the week was about 10%, and from the minimum price in April ($74.4 thousand on April 7), quotes increased by more than 25%.
Why did prices rise?
The main factors affecting the situation in the crypto market right now are fears and concerns related to the tariff war between the United States and China, and the monetary policy of the US Federal Reserve, said Ryan Lee, a leading analyst at Bitget Research.
"Yesterday, the market received a powerful boost after Donald Trump's speech, in which he touched upon the pressing issues of the economy. Investors were encouraged by Trump's words that the tariff conflict with China could be resolved in the near future," Lee writes, noting Trump's position on lowering the Fed's lending rates.
The weakness of the dollar turned out to be an additional trigger for bitcoin's growth, according to Viktor Pershikov, a cryptocurrency market analyst at SWR Capital.
"Against the background of the weakness of the American stock market, the cryptocurrency continues to remain fairly stable and recoups the fall in the first quarter, as well as the likelihood of a de—escalation of the "trade wars", which will result in increased demand for risky assets that have fallen in price in recent weeks," Pershikov noted.
However, there is no significant change in the situation, Pershikov said, and "the market continues to be in a bull cycle." The analyst believes that the decline in quotations in the first quarter fits into an ordinary correction, which occurred due to external rather than internal factors for the crypto market.
Forecasts and expectations
Experts' expectations on the price trajectory are unanimous — they will grow. For example, Lee believes "the main catalyst for continued growth is the change in the Fed rate, which could push bitcoin above $100,000."
"Depending on how the situation develops further, growth may continue or stop. Given that most market participants expect a key rate cut at the June Fed meeting, bitcoin has every chance of returning to the zone above $100,000," Lee predicts, noting that he expects the exchange rate to consolidate above this level in the second half of May, ahead of the monetary policy decision.
According to Pershikov, the first goal is also the level of $100,000 per bitcoin, and in addition, the analyst expects the total capitalization of the crypto market to grow to $3.2 trillion (as of April 23, this figure is $2.95 trillion, according to Coinmarketcap). At the same time, higher targets for the bitcoin price in 2025 were also noted.
"I continue to expect targets of around $130-150 thousand per bitcoin this year. The probability of updating the price maximum in the coming months for bitcoin remains, which opens up wide opportunities for price recovery for the most capitalized altcoins, primarily SOL."
