Bitcoin Punches Above $27K, But Analysts Have Bearish Price Predictions


18 Sep 2023 12:20 PM

Bitcoin (BTC) zoomed above the $27,000 price level in European afternoon hours on Monday, with ether (ETH) holding above support levels, though intere...

  • Bitcoin (BTC) surpassed the $27,000 price level, while ether (ETH) maintained support levels.
  • Interest-rate decisions later in the week may introduce downward pressure.
  • Overall crypto market capitalization grew by only 0.4% in the past 24 hours.
  • Crypto futures liquidations were at their lowest level since mid-August.
  • Open interest in futures contracts grew by 4%, suggesting low sentiment.
  • Toncoin (TON) experienced losses, potentially due to profit-taking after a 40% increase.
  • Traders are anticipating key decisions in traditional markets that could impact the crypto environment.
  • Analysts note that recent price moves have not affected the estimated leverage ratio on bitcoin and ether.

The sentiment in the article is mostly neutral, with mentions of tepid market growth, low sentiment, and potential bearishness due to upcoming rate decisions.

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