• Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact
Friday, June 6, 2025
FinCurrency
No Result
View All Result
  • Home
  • News
  • Finance
  • Economy
  • Crypto
  • Home
  • News
  • Finance
  • Economy
  • Crypto
No Result
View All Result
FinCurrency
No Result
View All Result

Bears Target $82,500 After Market Bloodbath

Andras Crow-Hreidar by Andras Crow-Hreidar
December 20, 2024
in Crypto, News
Reading Time: 2 mins read
A A
0
Why Bitcoin is Down Today? Peter Brandt’s BTC Price Prediction Amid Market Cool-Down
0
SHARES
0
VIEWS
FacebookTweetPinShareShare

Current Bitcoin Market Situation

The cryptocurrency market is experiencing significant turbulence, with Bitcoin currently showing a decline of over six percent. As of now, Bitcoin is trading just above the $95,000 mark. The next critical support level is anticipated to be within the $91,000 to $92,000 range. This downturn follows a recent adjustment by the Federal Reserve, which reduced interest rates by 0.25% (25 basis points). The market had already anticipated this move, so the immediate reaction was minimal.

Impact of Federal Reserve Announcements

blockdag 70m

Initially, the market remained relatively stable upon the release of the interest rate news. However, about thirty minutes later, Jerome Powell’s press conference began to influence the market more significantly. Both Bitcoin and the stock market have experienced declines in the past 24 hours. The primary factor contributing to this drop is the revised interest rate expectations for the coming year. Despite hopes for more rate cuts, the market is now only foreseeing a single additional 25-basis point reduction in 2025. This has led to a bearish market sentiment. Furthermore, Powell’s statement that the Federal Reserve is prohibited from buying or holding Bitcoin added to market concerns.

Bitcoin Price Analysis: Future Outlook

Bitcoin is currently navigating a downward trajectory, with its price approaching a crucial support zone. Analysts have anticipated this decline, identifying the next major support area between $69,400 and $82,500. Recent price movements indicate signs of a correction, suggesting the market could be nearing the end of this phase. Although Bitcoin has generally been on an upward trend, indicators have hinted that a correction was inevitable. The recent price action has shown weakness, with overlapping movements indicating market exhaustion. Additionally, Bitcoin has faced substantial resistance at the $100,000 level.

Potential for Market Reversal

The market continues to exhibit downward momentum, and further declines are possible before any recovery takes place. Despite the ongoing downtrend, there remains a potential for a rebound once Bitcoin hits key support levels. However, for a reversal to be confirmed, it is essential to observe a break above the existing resistance levels. Investors and market participants should remain vigilant and monitor these critical price points to determine the potential for a market turnaround.

Tags: BitcoinCrypto newsPrice Analysis
Previous Post

Hut 8 Bitcoin Holdings Now Over $1 Billion With Latest Buy

Next Post

Is The Bitcoin Cycle Top In? On-Chain Signals You Need To Know

Andras Crow-Hreidar

Andras Crow-Hreidar

Hi there, my name is András and I'm a business and finance journalist living in Norway. My passion lies in uncovering the latest stories in the world of finance and delivering them to my readers in a way that's clear and engaging. I cover a wide range of topics in the finance world, including cryptocurrencies, which I believe have the potential to transform the way we interact with money and financial systems.As a journalist, I'm committed to providing my readers with accurate and reliable reporting. I believe that access to high-quality information is essential for making informed decisions, whether it's about personal finances or investments. When I'm not writing about finance, I enjoy a variety of hobbies and interests.

Next Post

Is The Bitcoin Cycle Top In? On-Chain Signals You Need To Know

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Popular News

  • How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    0 shares
    Share 0 Tweet 0
  • Top 10 Altcoins Under $1 to Invest in 2025

    0 shares
    Share 0 Tweet 0
  • Vanguard Routing Number: How to Find and Use It

    0 shares
    Share 0 Tweet 0
  • Alex Mashinsky Net Worth: From Tech Pioneer to Legal Battle

    0 shares
    Share 0 Tweet 0
  • How to Earn Passive Income? Embrace the Future of Passive Income and Earn 20% Instant USDT with Caged Beasts Coin

    0 shares
    Share 0 Tweet 0

Recent News

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025
FinCurrency Logo White Mode Retina Mobile

FinCurrency is a user-friendly platform that stands out as a unique source where our strong team of experienced and academically qualified writers, who are experts in their fields, analyze current issues and global affairs related to the finance and crypto world in an enjoyable and non-technical approach.

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025

WARNING:

The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.
Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

  • Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact

© 2024 FinCurrency - Global News

No Result
View All Result
  • Home
  • News
  • Economy
  • Finance
  • Crypto
  • Technology
  • Terms and Conditions
  • Contact

© 2024 FinCurrency - Global News

Banner 1
Banner 2
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Terms and Conditions.