Will BTC and ETH Go Red? How Low Can They Go?
Bitcoin and Ethereum are showing slight green today, but is a red correction coming?
@GeniusOfficial
As per today, BTC is trading around $85,931 (+0.15%) and ETH around $2,740 (+0.15%) on Binance futures market. Both coins are still 31% and 44% below their All-Time Highs.
$BTC $ETH
Analysts are warning about a possible short-term pullback. The main reason is Bitcoin's ETF cost basis is just below $86,000. BTC is currently holding at $86,537, so most ETF holders are only slightly in profit. If BTC breaks below $86k, we could see panic selling.
For BTC, if it goes red, the first support level is $85,400. If that breaks, the next major support is $84,000 - $83,500. A deeper correction could retest $81,000.
For ETH, the situation is similar. ETH is holding above $2,740 but facing resistance at $2,789. If ETH turns red, it could first drop to $2,680, then to the strong support of $2,500.
However, long-term sentiment is still bullish. On Sept 21, Bitcoin ETFs saw a massive $998M inflow and Ethereum ETFs saw $270M inflow, the biggest in months. Altcoins are also rising.
Conclusion: A short red correction is possible, but the big trend remains bullish.
Written by: Writer Sahil-$indhi
#BTC #ETH #CryptoNews #Bitcoin #CryptoUpdate #Binance #Crypto
Bitcoin and Ethereum are showing slight green today, but is a red correction coming?
@GeniusOfficial
As per today, BTC is trading around $85,931 (+0.15%) and ETH around $2,740 (+0.15%) on Binance futures market. Both coins are still 31% and 44% below their All-Time Highs.
$BTC $ETH
Analysts are warning about a possible short-term pullback. The main reason is Bitcoin's ETF cost basis is just below $86,000. BTC is currently holding at $86,537, so most ETF holders are only slightly in profit. If BTC breaks below $86k, we could see panic selling.
For BTC, if it goes red, the first support level is $85,400. If that breaks, the next major support is $84,000 - $83,500. A deeper correction could retest $81,000.
For ETH, the situation is similar. ETH is holding above $2,740 but facing resistance at $2,789. If ETH turns red, it could first drop to $2,680, then to the strong support of $2,500.
However, long-term sentiment is still bullish. On Sept 21, Bitcoin ETFs saw a massive $998M inflow and Ethereum ETFs saw $270M inflow, the biggest in months. Altcoins are also rising.
Conclusion: A short red correction is possible, but the big trend remains bullish.
Written by: Writer Sahil-$indhi
#BTC #ETH #CryptoNews #Bitcoin #CryptoUpdate #Binance #Crypto