For The Upcoming Week analysis
#Bitcoin (BTC) is currently facing significant volatility. The price recently dropped from a high of $66,448 to around $60,000 due to global geopolitical tensions and market corrections. Despite this, Bitcoin ETFs have been on a buying spree, purchasing over $1.1 billion worth of BTC, which is providing some bullish support. The key level to watch for Bitcoin is the $60,000 support. If this level holds, Bitcoin could recover to around $62,000-$65,000, but breaking below
it may lead to further corrections towards $55,000 $BTC
The geopolitical uncertainty and potential future rate cuts by the U.S. #Federal Reserve could also influence BTCâs trajectory. Traders should be cautious, as any further instability could increase market fluctuations, but Bitcoin's appeal as a safe-haven asset during economic uncertainty might bolster its price in the longer term $BTC
