What will happen to cryptocurrencies this week. Bitcoin's nearest price targets
Bitcoin ($BTC) has risen by 3.5% since the beginning of August, surpassing $65k and reaching a two-week high on August 10. It is currently trading around $64.8k. Experts outlined key factors and price targets for the coming week.
Geopolitical and economic developments are providing support. Potential easing of tensions in the Middle East, particularly regarding the Strait of Hormuz, could reduce oil price and inflation risks, benefiting risk assets like Bitcoin. Additionally, weaker-than-expected U.S. jobs data for July has strengthened expectations for a more dovish Federal Reserve policy, further aiding risk sentiment. This week's focus will be on U.S. inflation data (CPI), where a slowdown could boost Bitcoin, while higher readings might pressure it.
However, selling pressure from mining companies continues. High mining costs have forced firms like MARA to sell not only newly mined coins but also dip into their reserves. MARA sold over 23,000 BTC in H1 2026. Furthermore, mining companies are repurposing facilities into AI data centers, creating competition for capital between crypto and the AI sector.
Technically, Bitcoin's short-term trend remains upward. Key support is seen around $64k-$64.2k, with potential to rise towards $67.5k and the psychological $70k level. Analysts suggest much negative news is already priced in, and any positive catalyst could push prices higher. However, due to the overall macroeconomic backdrop, a sustained break above the 200-day moving average and the $70k-$72k resistance zone is not widely expected in the near term.
cryptonews.ru08/10 19:46