Bitcoin ($BTC) has appreciated by 3.5% since the beginning of August, its price rising above $65k and updating a two-week high on August 10. As of 17:00 Moscow time, the leading cryptocurrency is trading around $64.8k.
Experts told RBC-Crypto which events will influence the crypto market in the coming days and what investors should pay attention to. They also pointed out the short-term trend in Bitcoin and named price targets.
How politics and economics influence Bitcoin
Bitcoin is receiving support amid signals of a possible easing of geopolitical tensions in the Middle East, says Oleg Kalmanovich, an analyst at Neomarkets and author of the Generation Finance blog on TradingView. He noted that US President Donald Trump has announced potential progress on opening the Strait of Hormuz, although no official agreement between the US and Iran has been confirmed yet.
If the situation around the strait truly begins to stabilize, it could reduce the risk of another oil price spike and inflationary pressure, which is positive for risk assets, the expert clarified.
He added that the crypto market received additional support from the US labor market report: instead of an expected increase of 85 thousand jobs, the economy lost 23 thousand jobs in July. Data for previous months were also significantly revised downward. Weak employment dynamics strengthened expectations for a more dovish Fed policy and supported demand for risk assets, Kalmanovich explained.
This week, investors' main focus will be on US inflation. The expert reminded that the Producer Price Index (PPI) for July will be released in the US on Thursday, and the core Retail Sales index on Friday, but the main event will be on Wednesday – the publication of the Consumer Price Index (CPI). According to the analyst, an acceleration in annual inflation is expected. He explained that easing inflation could strengthen expectations for a Fed rate cut and provide additional support for Bitcoin, while higher values could return pressure on risk assets.
How AI influences the crypto market
Pressure on Bitcoin's price is exerted by sales of mined coins by mining companies, pointed out Nikita Bredikhin, leading investment analyst at Go Invest. He reminded that the high cost of mining cryptocurrency has exceeded its market price for the last several months, and mining companies are forced not only to sell newly mined bitcoins but also to liquidate accumulated reserves.
For example, the largest US mining company, MARA, sold over 23 thousand bitcoins for $1.6 billion in the first half of 2026. It reduced its reserves from 53,822 to 35,577 $BTC, as a result dropping from 2nd to 4th place in the list of public holders of the largest crypto reserves, ceding position to the company Twenty One Capital with Tether support and Japan's Metaplanet.
Besides the high mining cost, mining companies continue reorienting their mining farms into data centers to provide computing power for AI, noted the analyst. According to him, this creates competition between different asset classes. MARA itself, according to its founder Fred Thiel, is willing to continue mining bitcoins only until the involved capacities are needed for artificial intelligence.
"The same trend is observed among investors in general. Capital is flowing from various asset classes into the semiconductor manufacturers and AI developers sector," added Bredikhin.
What will happen to Bitcoin's price
From a technical point of view, Bitcoin's short-term intra-week trend remains upward, says Kalmanovich. According to his estimates, the nearest support zone is around $64–64.2k. From this area, there is potential for a move towards $67.5k and further to the psychological level of $70k, the expert said.
According to Bredikhin, all the main negative factors are already priced in, and any even slightly positive event could push Bitcoin's price upward. He agreed that the price could rise towards $70k. However, since the overall negative macroeconomic background persists, movements above the 200-day moving average and resistance levels around $70–72k are not expected, the analyst believes.
