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📉 On the night of October 2, the price of Bitcoin dropped to the $60,000 level but soon returned to above $61,000.
✔️ The total liquidation volume over the past 24 hours amounted to $524 million, with $452 million being long positions.
📊 Over the last 24 hours, Bitcoin lost 3.5%, while many altcoins fell by 5-10%. Against this backdrop, the Fear and Greed Index in the crypto market dropped to 42 (fear).$BTC
$BTC is forecasted to continue fluctuating within the range of 54,000 to 56,700, with a potential pullback toward support before testing resistance levels again.
The EMA 34 and EMA 89 act as dynamic resistances. Currently, BTCUSDT is trading below both EMA 34 and EMA 89, indicating a mild downward trend.
The chart highlights two key resistance levels: Target 1 at 56,065 and Target 2 at 56,690, where price may struggle due to increasing selling pressure.
The critical support level at around 53,000 USD could trigger a bounce if retested, as strong buying demand may emerge.
Additionally, many Bitcoin derivatives contracts are expiring this month, creating significant volatility for BTCUSDT, with prices potentially rising or falling depending on market sentiment.