Bitcoin is at a crucial juncture. This week’s move could possibly prove vital for the cryptos forecast leading into Christmas.
Bitcoin has extended losses for a 4th session, now trading less than $95K. 93,700 dollars is possibly the most immediate support on the chart.
For any recovery to gain traction, price might need to reclaim 101,150 dollars and establish higher lows above it.
Perhaps the most important fundamental issue pressuring BTCUSD are the remarks from Fed officials questioning whether a December rate cut is warranted. Adding to the downside, Japan Exchange Group has apparently paused the listing of three crypto treasury firms while it reviews new compliance and disclosure rules. Japan remains the largest market in Asia for listed Bitcoin treasury firms, with fourteen companies currently holding BTC.
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