According to online reports, LMAX Group crypto strategist Joel Kruger pointed out that risk appetite in traditional markets has cooled due to global trade tensions and the Fed's hawkish outlook. "We believe that the correlation between Bitcoin and traditional risky assets can be misleading, and given that Bitcoin's attributes are more consistent with the characteristics of a store of value, it could easily generate a lot of demand as an attractive portfolio diversification asset," he said. Analysts said BTC has "strong support" in the $70,000 -75,000 region, a level that could become "an attractive higher low", laying the foundation for the next round of sharp gains and pushing Bitcoin above $110,000, setting a record high.