“BTC is on the brink of loming a key level that could see see prices Plunge to $ 93,000 Before a Stronger Final Quarter, Bitfinex Analysts Caurated.”, – WRITE: www.coindesk.com
The Largest Cryptocurrency Fell 2.2% Over 24 Hours to $ 109,500, Erasting Half The Gains IT Made from the Weekend’s Low of $ 107,000 As ItPped $ 112.600 on Wednesday. ETHER (ETH), Solana’s Sol (Sol) and Cardano’s Ada (ADA) All Fell More Than 3% Over The Past 24 Hours.
Digital Asset Treasury Stocks Also Bled. The Largest Corporate Btc Owner Strategy (Mstr) Droped 3.2% and Is 30% Down Since July. Japan-Based Metaplanet (3355) LOST 7% AND TRADES 60% LOWER THAN ITS JUNE HIGH, While Kindlymd (Naka) Slid Another 9% And Is Now Down 75% Since Mid-August. Ether-Focused Vehicles Bitmin (BMNR) and Sharplink Gaming (SBET) Droped 8%-9%.
How Low BTC Could Fall?Worries about Further Downside Are Growing Louder, with Some Observers Pointing to September Historically Being One of Bitcoin’s and and The Broader Crypto Market’s Weakest MONTHER
At Same Time, Gold, The Old-School Safe Haven and Inflation Hedge, Broke Out to Fresh Records Above $
A New Report from Bitfinex Noted that Btc have enlarged it third straight week of retracement from the august all-time High of $ 123.640. Historically, Bull-Market Corrections Averaged Avery 17% Peak-To-TROUGH, Suggesting The Market Is Nearing the Typical Limit of Itwdowns, The Report Said.
However, There’s A Risk of a Deeper Pullback, The Analysts Warned. The Short-Term Holder Realized Price, A Gauge of Newer Investors’ Cost Basis of Buying BTC, Currently Sits Near $ 108.900, LESS THAN 1% BLOW BTC’s CURRENT PRICE. If that level Fails as Support, It Could Open the Way to A Deeper Retracement, with A Dense Supple Cluster Between $ 93,000 and $ 95,000 Likely Providing A Durable Floor, The Report.
BTC Suppply Cluster at $ 93k- $ 95k (Bitfinex/Glassnode)
Joel Kruger, Market Strategist of Lmax Group, Remains More Optimistic.
September Has Usulyly Been A MONTH OF CONSOLIDATION AHEAD OF STRONGER FURTH-QUARTER PERFORANCE, HE SAID, ADDING THAT YEAR’S CORRECTION MIGHT Bellower If Etrets, Correts. Tailwinds Materialize.
Read More: Bitcoin Options Tilt Bearish Ahead of Friday’s Expiry: Crypto Daybook Americas
Update (Sept. 4, 16:00 UTC): Adds BTC Supple Cluster Chart.
The Move Index, An Indicator of Bond Market Volatility, Has Surged, Signaling Potential Liquidity Tightling.
- The BTC Bull Run Has Stalled, with Long-Term Holders Distributing Coins and A Slowdown in Demand for Etfs Weiging on Prices.
- The Move Index, An Indicator of Bond Market Volatility, Has Surged, Signaling Potential Liquidity Tightling.
- Heighted Treasury Note volatility May Lead to a Market Sell-Off, AFFERTING BITCOIN PRICES NEGATIVELY.
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