$BTC $BTC

**$BTC Technical & Fundamental Analysis: Will the Market Drop to $56K?**

In our last few updates, we highlighted two key points: take 30% profits at $67K and expect the first few days of October to be bearish. We were waiting to book profits at $67K, but the market dipped from $66,500. That’s fine; we’re still in profit since we bought at $56K. Let’s discuss BTC's next moves.

### 1. Fundamental Analysis

- Jerome Powell hinted at possible rate cuts but mentioned there are no immediate plans for them. If positive data comes in, they might cut rates more.

- A Federal Reserve member indicated they’re considering a 0.5% rate cut in November.

- Israel has started a ground operation against Hezbollah.

- FTX has begun its repayment process.

Overall, the fundamentals appear somewhat bearish, so we don’t expect significant upward movement until tomorrow, October 3, although a small rise could happen.

### 2. Technical Analysis

- Technically, we’re at a liquidity support level between $62,400 and $63,200. We might see a bounce after about 24 hours of consolidation. The targets for any upward movement would be:

- $67,400

- $69,900

### 3. Personal Opinion

- I believe BTC will hold above the support area and consolidate until tomorrow. After October 3, we may see an upward move, with a chance of reaching over $70K by October 15.

**Note:** If you found this post helpful, please like and share it with your friends. Also, let us know your expectations for the market in the comments!#Write2Earn! #writetowin #Write2Earn! #writetowin #Write2Earn!