1. Summary:
Bitcoin’s price continued to decline, dropping below $94,000 as traders remained bearish and Wall Street’s return failed to provide relief. Various analysts predicted further price declines, with some pointing to potential support tests below $90,000. The macroeconomic sentiment remained uncertain amidst a hawkish policy update from the United States Federal Reserve, with little chance of interest rate cuts in 2025.
2. Key insights:
– Bitcoin faced continued losses, dropping below $94,000 as traders held bearish short-term price targets.
– Analysts warned of potential support tests below $90,000 and lower price levels before a broader market rebound.
– The Federal Reserve’s hawkish policy update raised macroeconomic uncertainties and reduced the likelihood of interest rate cuts in 2025.
– Analysts highlighted the impact of dwindling global liquidity on Bitcoin and the crypto market’s performance.
– Readers were reminded of the risks involved in investment and trading decisions and encouraged to conduct their own research.
