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

Bitcoin's price has fallen below $95,000, marking a nearly 9% drop in just a week. Analysts attribute this downturn to a lack of clear economic guidance following a prolonged U.S. government shutdown, which delayed important inflation and jobs data. Ledn's chief investment officer suggests that the next key support level for Bitcoin is around $84,000, following a breakdown of the Fibonacci retracement level just under $100,000. Other cryptocurrencies like Ethereum and Solana have fared worse, with significant weekly losses of over 11% and 15%, respectively. Overall, market volatility persists due to macroeconomic uncertainties and a recent influx of crypto-related equities. Experts are cautious, stating the market could still experience further declines as investors await more concrete economic data and policy direction from the Federal Reserve. John Glover from Ledn expects Bitcoin may see prices rebound above $100,000 before testing lower levels later.

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