$BTC The price of Bitcoin must remain above this level, otherwise we will bid farewell to hopes of a bull run

cryptocurrency market . I opened the week very positively, but gains are starting to slow. The battle between bulls and bears has intensified, with particular emphasis on one key price area.

In fact, the leading DeFi asset needs to maintain the bull run support level at $ 24,900 . Otherwise, “the urine will end up ringing.” As noted by a cryptocurrency expert with the pseudonym CoinsKid on a 4-hour Bitcoin chart shared in a post by X on October 3.

Analyze and predict Bitcoin price movement. Source: CoinsKid According to the expert's observations, if Bitcoin actually succeeds in holding this key support level. Its next move could take it towards the psychologically important $30,000 level and beyond.

Bitcoin Price Analysis Meanwhile, at press time, Bitcoin was trading at $27,593, representing a 2.7% decline in the past 24 hours while still recording 5.02% increases over the previous 7 days and 6.34% gains on the monthly chart. , where according to the latest data.

Meanwhile, another cryptocurrency analyst traded under a pseudonym. Cryptoinsightuk, noted that Bitcoin's weekly Relative Strength Index (RSI) chart patterns indicate the potential for a 1,100% move “in the right conditions with supply pressure” and the introduction of a spot Bitcoin ETF.

However, renowned cryptocurrency expert Michael van de Poppe expects a return of enthusiasm among investors in the fourth quarter of 2023. This is primarily due to the potential approval of a BTC spot exchange-traded fund and the traditional price rise before halving. Looking forward to the $40,000 level.