How Low Bitcoin (BTC) Price Can Fall? Analyst Sets $84K as Downside Target

Bitcoin's price has fallen below $95,000, marking its worst week since March and a nearly 9% decline. Analysts attribute the market's downturn to an 'information vacuum' caused by a prolonged U.S. government shutdown, which disrupted the release of key economic data. This uncertainty has left investors cautious, with Bitcoin now targeting a support level of $84,000 after breaking below the 23.6% Fibonacci retracement level. John Glover, Ledn's CIO, indicates that despite the potential for further declines, he expects Bitcoin prices to recover and may return above $100,000 before experiencing sustained breaks below $90,000. Other cryptocurrencies like Ethereum and Solana have suffered larger losses of over 11% and 15%, respectively, while XRP has seen a more modest decline. Ongoing pressure on the market reflects a combination of macroeconomic factors and investor sentiment, with many awaiting clearer guidance on U.S. monetary policy before making significant moves.

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