Kraken expert predicts two key triggers

Summary

Bitcoin is trading around $75,000 after rallying 12% over the past two weeks. Bitcoin’s next breakout to $80,000 is back in play. Matt Howells-Barby, vice-president of growth at Kraken, told DL News that the path higher depends on two things: how the Middle East conflict evolves and whether US corporate earnings hold up. “The bid is there, but right now it needs a reason to run.” A surge to $80,000 would mark a dramatic shift in the narrative around Bitcoin, which is still sitting 40% below its October peak of $126,000. Bitcoin exchange-traded funds have seen steady inflows, with investors piling over $2.3 billion into these funds since the beginning of March, according to DefiLlama data. That reversal combined with continued institutional adoption has seen market watchers say the price is heading to $80,000 before the summer.

The indicator had fallen roughly 8% in the first weeks of the US-Israeli war on Iran, sliding from the outbreak of fighting on February 28 to a low on March 30. “Crypto's 24/7 nature means any shift in sentiment gets priced in the moment it happens, long before traditional markets can react.” US economy strong Howells-Barby is not the only one flagging the importance of US economic performance. Economist Ed Yardeni argues that global investors have already shifted their focus away from fears of military escalation in the Middle East and back to the steady resilience of the US economy. “The stock market is sending a clear signal: the US economy has passed another stress test,” he wrote . Even hedge fund manager Michael Burry — known for his bearish take on artificial intelligence stocks — is reportedly buying the dip in software stocks after the recent AI-driven sell-off.