Potential Range for Bitcoin Price Drop – Expert Analysis
According to the analysis, the price of Bitcoin may fall further in the short term, but it is also possible to gradually stabilize and rebound. Here are some key points:
1. From a technical point of view, Bitcoin is currently at the lower edge of the downward trend line. If it fails to break through $61,120 in time, it is possible to further explore $54,000-52,000. There is also strong liquidity support in this range.
2. From the perspective of market sentiment, September is historically a relatively weak month for Bitcoin, and the market has expectations of further declines. However, if Bitcoin can stabilize and rebound around $58,000, it is expected to re-hit the high of more than $65,000.
3. From the on-chain data, Bitcoin's open interest weighted financing rate is currently positive, indicating that there is still a certain bullish interest in the derivatives market. And around $54,700 is also close to the short-term cost basis, which may become support.
4. Overall, near the key support level, the price of Bitcoin may fluctuate in the short term, but as long as it can stabilize at $54,000-52,000, the medium- and long-term positive trend will continue. Investors are advised to pay close attention to market trends and adjust investment strategies in a timely manner.
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