Bitcoin (BTC), the market’s leading cryptocurrency, recently sought to stabilize around $112,000 after a sharp drop to $110,000 on Sunday.
Ahead of the Federal Reserve’s September meeting, the interests of market expert physicians were highlighted in X (formerly Twitter), highlighting the future meaning and the most important technical indicators that paint a dark picture of Bitcoin (BTC) and the broader market.
Fed rate reductions to trigger new market corrections?
Doctor’s benefits Emphasised The current market environment is significantly different from previous cycles. He believes the Fed’s expected rate cuts next month will allow him to begin a robust fix in both stocks and cryptocurrency.
He said the initial significant cuts usually bring about uncertainty and lead to different opinions among investors, and he predicts this time is no exception.
Related readings
Looking at Bitcoin’s technical indicators, the outlook looks bearish. Experts pointed out essentially Chicago Mercantile Exchange (CME) Gap around the $93,000 mark that requires addressing. Most liquidity is concentrated in the $90,000 to $95,000 range.
The chart shows potential corrections highlighted by double-top formations and reduced trading volumes. In particular, doctors’ profits argue that the last price surge, when BTC reached $124,000, is driven primarily by the future rather than market activity, reinforces bearish sentiment.
Bitcoin price forecast
Market psychology plays an important role in this analysis. Metrics and sentiment metrics on the chain reveal that retail investors often buy highs and sell low.
Experts have revealed that between May and June this year, between the last DIP of Bitcoin to $110,000 to $98,000, the DIP of retail buyers was primarily institutional investors who took advantage of the low prices.
As prices rose, retail investors entered the market at a higher level, adding more profits to doctors. Liquidation Zone $90,000 to $95,000.
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Beyond Bitcoin’s price action, doctors’ for-profits warn that current market sentiments reflect a false sense of optimism, suggesting that the general belief in the sustained altcoin season is misguided. He warns that as enthusiasm grows, larger players may start to offload their positions, revealing retail investors.
Going forward, he forecasts a potential surge in Bitcoin prices from $145,000 to $150,000. This could mean a 34% increase from the current level. Experts are also looking forward to it Ethereum (ETH) It will reach between $7,000 and $8,000 after the September revision.
During the writing, Bitcoin trades at $112,560, marking a 6% drop over the 14th-day time frame. Meanwhile, Ethereum is continuously positioned among top performers in the market with a surge of 5% over the same period.
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