Bitcoin is experiencing significant volatility as it retests $92,000 after a strong weekly close. Traders are predicting a deeper price correction, potentially down to $88,000, amidst upcoming U.S. macroeconomic data. These include Q1 GDP and the Personal Consumption Expenditures (PCE) index, which are expected to influence market sentiment. Current indicators show that Bitcoin short-term holders are regaining profitability, with key price levels around $92,000 needing to be maintained for the bull run to continue. Market sentiment remains neutral but cautious, with a notable spike in greed, suggesting a possible local price top. Predictions from crypto executives suggest Bitcoin could reach $180,000 in the next eighteen months, driven by increasing liquidity and forthcoming interest rate cuts from the Federal Reserve. Traders are closely observing market dynamics as they anticipate potential support retests and overall market trends.

Source 🔗