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Bitcoin Faces Potential Slide to $58,000 Amid Fed Policy and Trade Tensions
Source: CryptoNewsNet Original Title: Bitcoin is at risk of slide to $58,000 as ‘restrictive’ Fed policy and trade tensions weigh on crypto Original Link: Two market analysts on Tuesday warned that macro economic conditions, including the potential for U.S. and E.U. tariff escalation and geopolitical tensions, are in place for bitcoin to drop in line with veteran trader Peter Brandt’s prediction.
Brandt, a futures trader since 1975, said late Monday that bitcoin could fall to between $58,000 and $62,000 within the next two weeks. In his analysis, Brandt shared a chart showing key resistance for BTC at around $102,300, and said bitcoin remains in a bearish downtrend.
According to Brandt, the $58,000 to $62,000 range represents his price target for bitcoin in the near term, though he acknowledged the uncertainty inherent in market predictions.