CandleFocus Bitcoin Price Prediction Today: Bears Target $82,500 After Market Bloodbath
2024-12-20
Author: Content Editor
In summary, Bitcoin is currently down by over six percent and trading above $95,000. The recent interest rate cut by the Federal Reserve has had a negative effect on the market, with Bitcoin and the stock market seeing declines. The drop is attributed to lower rate cut expectations for next year and Jerome Powell's statement that the Federal Reserve cannot buy or hold Bitcoin. Analysts predict that Bitcoin's price could reach support levels between $69,400 and $82,500, indicating a potential correction phase. However, a break above resistance is needed to confirm a reversal in the market.
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