Analysis Company: “Bitcoin (BTC) is at a Very Important Turning Point These Two Levels Require Close Attention!”

It is a general decline across all markets and assets this week, according to . Bitcoin and the cryptocurrency market, which has been trending down for weeks, are still falling this week while gold and silver, who hit record highs last week, also fall.

Despite the fact that many macroeconomic factors are considered to have contributed to this decline, Singapore-based analysis firm QCP Capital named Kevin Warsh (who has been announced as a candidate for FED chairman) as one of the reasons why it dropped.

The QCP analysts said that $BTC fell below $80,000 when Kevin Warsh was announced as the next FED Chairman, leading to a widespread reduction in leverage.

According to analysts, Warsh’s nomination was interpreted by markets as a harbinger of faster monetary tightening.

$BTC briefly dropped below $74,500, while Ethereum (ETH) fell below $2,170, liquidating over $2.5 billion in leveraged long positions.

All this pushed prices down, further depressing already-strength market sentiment as the ETF outflow continued to keep up and $BTC reported its fourth consecutive monthly decline.

Has Bitcoin Hit Bottom?

Bitcoin’s decline to the $74,000 mark is seen on one hand as a sign of entering if it has entered – and on the other hand, as reaching its bottom.

QCP Capital stated that the $74,500 level is considered a technically critical point because it coincides with the 2025 lows.

However, options markets remain cautious. Although put options outnumber call options, there is no atmosphere of panic.

Increasing demand for hedging could now indicate that investors are starting to build positions in anticipation of an local bottom-bottom position.

But, despite all the data, momentum is still down and upward movements are limited near recent resistance levels, meaning markets will be subject to further liquidation-driven action.

Analysts concluded that $74,000 and $80,000 stand out as two key levels to watch in the short term.

Keeping close to $74,000 support level could increase the risk of further decline and pull the price back towards 2024 trading range. Paraphrast.

In contrast, a decisive return above the level of 80,000 could provide short-term relief for volatility and options to normalize as downside risks are priced too high. – ’.

analyst said the short-term direction is likely to be determined by institutional inflows from spot ETFs and moderate statements from the Fed and presidential nominee Warsh, which.

*This is not investment advice.

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