LMAX Group crypto strategist Joel Kruger pointed out that risk appetite in traditional markets has cooled due to global trade tensions and the hawkish prospects of the Federal Reserve. "We believe that the correlation between Bitcoin and traditional risky assets may be misleading, and given that Bitcoin's properties are more in line with the nature of store of value, it is easy to generate a lot of demand as an attractive portfolio diversified asset," he said. Analysts say BTC has “strong support” in the $70,000-75,000 region, a level that could be “a higher low point of attractiveness”, laying the foundation for the next round of sharp gains and pushing Bitcoin to a record high above $110,000.