Analyst: Structural demand for Bitcoin still exists, even as the Federal Reserve tightens policies and geopolitical risks intensify

According to BlockBeats, on June 20th, despite the hawkish stance of the Federal Reserve, insufficient summer liquidity, and ongoing turmoil in the Middle East putting pressure on the Bitcoin market, BRN Chief Analyst Valentin Fournier stated that the continued buying behavior of businesses still makes the long-term outlook for Bitcoin bullish. On Thursday, medical device manufacturer Semler Scientific (SMLR) announced plans to significantly increase its holdings of Bitcoin from 4449 to 100500 by 2027. The company will raise funds through convertible bonds and on-site issuance. Fournier wrote in the report: "Despite market sentiment remaining cautious and short-term geopolitical uncertainty dominating, we believe Semler Scientific's news is a significant signal of structural demand. '' At the same time, some analysts have also warned that there are systemic risks in the current market similar to the 2021 bull bear cycle. However, Peter Chung, the research director of Presto, believes that the current trend of encrypted vaults is more robust than past "boom bust" cycles. He pointed out that currently, companies generally avoid the high leverage model of using cryptocurrency as collateral for loans, which has amplified downside risks in the past. In addition, due to the lack of sufficient data, we have not yet seen the phenomenon of "excessive premium" that would attract radical investors. Cryptocurrencies such as Bitcoin remained stable overall on Friday. The GMCI 30 index has slightly increased, while the price of Bitcoin remains around $106000.