Kryptodata

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$20K BTC price reemerges on radar as Bitcoin fails to recover from post-Fed losses

$20K BTC price reemerges on radar as Bitcoin fails to recover from post-Fed losses

Bitcoin’s price has dipped after the Wall Street open, with $20,000 price predictions resurfacing. The lackluster 24 hours of BTC price action and the Federal Reserve interest rates pause have dampened the enthusiasm of Bitcoin bulls. Traders have a more conservative outlook, with predictions of a slow grind up to $28,500 followed by a dump. There is also concern about a potential “death cross” on the weekly chart, which could lead to a lower low and a test of $20,000. The liquidation of crypto assets by defunct exchange FTX could contribute to selling pressure. However, some traders see this as a buying opportunity, believing that Bitcoin is in the early stages of its next bull market. BTC/USD is currently trading at around $26,600, with September gains of around 2.5%, making it Bitcoin’s best month since 2016.

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