Bitcoin at $60,000 risk.
Crypto analysts claimed that a daily close above $65,000 in the Bitcoin ($BTC ) price would confirm the rise, otherwise the price could decline.
BTC, which rose after the US Fed's interest rate cut decision, continues its positive outlook. The leading crypto has gained nearly 10 percent since September 18. This rise contributed to the inflow of money into altcoins.
Analysts stated that the ongoing increases accompanied by FOMO (fear of missing out) have reached the decision stage. According to analysts, if the upward momentum is not confirmed, the BTC price may enter a risky process.
BTC, which exceeded $65,000 for the first time since August 2 on September 26, divided crypto analysts. While some traders welcomed the BTC price exceeding $65,000 as positive, others believe that a correction could begin at any moment.
In the market note published by Kraken analysts, the following was said for Bitcoin ($BTC ) price;
âThe recent price action reflects indecision in the market, as evidenced by a series of small-range doji candlesticks formed on the daily chart.â
According to CoinGlass data, BTCâs open interest has increased by approximately 3.5 percent in the seven days since September 20. The interest in question stands at $35.61 billion.
Kraken analysts stated that if BTC cannot hold on to $65,000 despite the increasing demand, it could fall to $60,000. The investor note said the following;
âBTC is at a very important point, investors need to closely monitor the price action in the $65,000 region.â
Crypto analyst Matthew Hyland argued that the downtrend started to change for the first time with these increases. Matthew claimed that a bullish cycle has begun. Rekt Capital, which shared a similar view with Hyland, stated that BTC is preparing to enter the âParabolic Risingâ phase.
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