With these developments increasing selling pressure on Bitcoin, analysts are pointing to the $83,000 level. the cryptocurrency exchange Giottus, stated that it is important for Bitcoin to remain above the $83,000 level. According to Subburaj, maintaining this level means that selling pressure is not yet strong enough to pull Bitcoin back down to the $76,000-$81,500 range. However, if Bitcoin remains permanently below the $82,000-$83,000 levels, it could increase downside risks. In such a scenario, Subburaj indicated that the price could fall to the $80,000-$81,500 range.
Alex Kuptsikevich, chief market analyst at FxPro, considers $84,000 a significant support level for Bitcoin. According to the analyst, a drop below this level could lead to increased selling pressure and pull the price down towards $80,000.
#FedMinutesFocusOnOctoberPause