#$BTC

Global markets are starting the week on a negative note amid the conflict between Israel and Palestine. Bitcoin price also dropped below $27,500 today. Although there are many reasons for market fluctuation, it is an important development that the king cryptocurrency maintains the 27,500 region. So what are the reasons for the decline in crypto? What are the expectations for this week?

Why is Bitcoin falling?

There are many developments that will pull the crypto down this week, including the DXY increase, the possibility of oil targeting $100 again due to the latest negativities, the US inflation data to be announced this week, and the negative statements of the Fed members.

BTC price broke the trend line on September 28, similar to the cumulative value. Then the price went down with the upper wick, which was an obvious sign of selling pressure. In the scenario where the king cryptocurrency fails to surpass the $28,000 resistance area, there is a risk of a drop to $26,000.

If the resistance zone at $28,143-28,300 is regained, the price could climb to $29,500 and then to 32,000.