Bitcoin (BTC) $57,013.95 price At the time of writing, it fell below $ 56,000 and made its daily bottom at $ 55,817. While the negativity in the BTC price continues, altcoins are still in the red. Two different cryptocurrency analysts are discussing the current situation and sharing their predictions. Today, we mentioned commentators targeting $ 53,000. Is BTC heading to these levels?
Bitcoin (BTC) Analyst Commentary
Earlier today, we shared crypto analyst Roman’s bearish scenario. He was right and the price decline accelerated. However, the weakening in volume along with the price decline still points to a recovery possibility on the daily chart. BTC While losing $56,000, Roman wrote; A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“I posted a bearish scenario this morning, but there is still upside potential on the daily chart. This is because the price is falling along with the volume.
“We are also approaching the $55,000 support on the daily chart, so longs make more sense but I need to see more to trade.”
Other popular crypto analyst SETH 
$2,405.88 He says that whales are trying to keep the price low while buying, and that the latest movement is related to this.
“Sell orders came in and BTCHe filled his buy orders by pushing down the .
“There are a lot of offers down here! Bitcoin has been doing this for 6 months, are you surprised? You ask why the price is not going up when the whales are buying. Here’s why. They are pushing the price down again to buy more.”
Binance The analyst, who added a visual of the order book, remains hopeful for an uptrend.
Cryptocurrencies Comment
The latest labor force data will be released on Friday, leaving only the inflation figures. If tomorrow’s data or inflation data is abnormal, that will increase the likelihood of the Fed cutting 100bp for 2024. But that’s not the only problem. At the same time, Japan’s negative interest rate story due to inflation opens up the possibility of further increases.
News from Japan had a negative impact on the markets last month. We see that investors, especially in cryptocurrencies, are much more cautious due to the potential for a similar wave. Although experts expect an increase in the markets due to the improvement in liquidity conditions in the last quarter, buyers have justified reasons not to act bravely in the short term. This is keeping the markets down.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
