In the past week, Bitcoin's price has attempted multiple times to challenge the resistance zone near $86,000. However, the price of BTC has almost always retraced back to the significant level of $83,000, thus encountering the firm resilience of Bitcoin bears.
Recently, Bitcoin has been moving towards the $86,000 level, but it began to pull back again in light of Federal Reserve Chairman Powell's remarks suggesting that interest rate cuts may not be as forthcoming as cryptocurrency traders expect.
The next significant move in Bitcoin's price largely depends on the levels of $83,000 and $86,000. According to crypto experts, a breakthrough above the $86,000 mark could indicate the start of a bullish run for Bitcoin, while a break below $83,000 might suggest further correction for the market leader.
Recently, Bitcoin has been moving towards the $86,000 level, but it began to pull back again in light of Federal Reserve Chairman Powell's remarks suggesting that interest rate cuts may not be as forthcoming as cryptocurrency traders expect.
The next significant move in Bitcoin's price largely depends on the levels of $83,000 and $86,000. According to crypto experts, a breakthrough above the $86,000 mark could indicate the start of a bullish run for Bitcoin, while a break below $83,000 might suggest further correction for the market leader.
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BTC
94,720
-0.05%
