Bitcoin $82,775.63 The price declined by 3 percent before the US Federal Bank meeting and caused investors to be cautious. Value, at the beginning of the week around 84,000 dollars, Bitcoin, sudden sales pressure with investors had a decrease in the purchasing power of the investors.
Crypto Coins Decrease
The decline in the crypto market led to chain liquidations in the derivative markets. While the price of positive news and the presence of previous supports is around 84,000 dollars, the increase in sales pressure brought about this level. Analysts say Bitcoin can approach $ 78,000 if sales pressure continues.
Bitcoin bull cycle has ended, a decrease or horizontal course is expected between 6-12 months.
On a single screen instant prices, important data, news, latest developments, comments and discussions at Chat! Come right away from your eyes!
– Ki Young Ju, Cryptoquant CEO
827,783 BTC sales movement in the past, drew attention to the tendency of long -term investors to reduce positions. This showed itself with similar examples in the previous correction phase. Investors continue to take cautious steps in the light of technical indicators and past market data.
Long -term investors’ collective sales should be seen as a harbinger of a major change.
– Aarun
FED decision and market uncertainty
The US Central Bank’s interest rate decision is uncertain in the markets, while reducing the risk appetite of investors. The current decrease trend may continue for a long time after the Fed’s decision. Technical indicators emphasize that support and resistance levels play a critical role. Although the FED will not make a discount at this meeting, it will share its 3 -year interest projections (DOT PLOT) and will be one of the most important events of this month.
Observations indicate that Bitcoin’s current correction can expand. Investors should be careful against fluctuations at price levels and closely monitor market data. Powell may be challenging if the pigeon does not make explanations in tone and does not give signals that the balance sheet narrowing is stopped.
Market analysts recommend investors to make decisions by following their economic developments and the FED decision. In this respect, carefully examining the current technical situation and past sales patterns may be useful.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
