Analyst: The key to Bitcoin avoiding further decline is that this week's closing price cannot fall below 81,000 US dollars
According to Cointelegraph, Bitcoin needs to close above the key $81,000 weekly line to avoid further downward fluctuations before next week's Federal Open Market Committee (FOMC) meeting. Ryan Lee, Chief Analyst at Bitget Research, stated that closing above $81,000 this week would be crucial in preventing further declines in Bitcoin. Maintaining this level would indicate resilience but falling below $76,000 could trigger more short-term selling pressure. According to the latest estimates from CME Group's Fed Watch tool, the market currently expects a 98% chance of the Federal Reserve maintaining stable interest rates.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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