Critical turn before the bull: “This is very important for Bitcoin”

As the markets reacted to global macroeconomic developments, the Bitcoin (BTC) price rose to $65,968.

BTC, which fell to $52,500 in the first week of September, started to rise with the US Fed's interest rate cut and the easing in global markets. While BTC is preparing to make its highest September close in the last 11 years, analysts' predictions drew attention.

Analysts, who stated that $65,000 is a potential resistance point, stated that BTC, which rose above the said resistance, gave the bull a green light.

According to analysts who examined BTC's current outlook, in order for the rise to continue, it must remain above the 200-day moving average (MA) at $63,855.

Crypto analyst Crypto Daan Trades, who argues that $65,000 is a very important level, said in his X post dated September 26; “BTC has started to rise on the daily timeframe and is trading above the 200-day MA. I want to see the daily close above this level to fully confirm the rise.”

Rekt Capital, on the other hand, stated that BTC’s current price level is a good position and that the post-halving accumulation phase will end soon. The analyst stated that the recent rise at the price of $BTC is positive.

Honey, who is followed with interest by global investors, criticized the pessimistic views. The trader commented, “Why are we at $65,000 despite September being a historically bearish month?”

Michael van de Poppe, founder of MN Capital, argued that it is important for BTC to regain $65,000 and that it should maintain this level in order to reach its all-time high.

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