Will the Decline in Bitcoin Continue? Analysis Company Said "Risk Continues", Revealed the Expected Level!

The hawkish stance in the FED minutes released last night deepened the decline in Bitcoin, and then the permission of the US government to sell the Bitcoins seized from Silk Road through the court further negatively affected the price.

As the Bitcoin price drops below $93,000, this decline has caused fear among cryptocurrency investors.

Singapore-based crypto company QCP Capital, which evaluates this decline, said that there is a possibility that the price of Bitcoin could drop to $90,000.

QCP analysts said that macroeconomic concerns have increased as the minutes of the FED meeting last night revealed a gradually more hawkish stance, which could continue to push down Bitcoin and altcoin prices.

The Fed pointed out that the increasing inflation risks would slow down the pace of interest rate cuts, while analysts said that Bitcoin could drop to as low as $90,000 if it falls below $92,000.

Analysts recently stated that they expect Bitcoin to consolidate between $92,000 and $95,000 in the short term and for prices to remain weak.

After successfully retesting the important support of $92,500, Bitcoin rose to $95,200 last night.

However, after the news of the US government allowing the sale of the BTC seized from Silk Road was heard, there was another drop early today.

Bitcoin and crypto prices continue to be dragged down by negative macroeconomic winds, as the FED Minutes released last night increasingly revealed a hawkish stance.

FED members stated that the pace of interest rate cuts will slow down due to increasing inflation risks.

US markets will be closed today, so we expect prices to remain weak and move within the range of 92,000 dollars to 95,000 dollars for a while

However, Bitcoin dropping below 92,000 dollars could lead to the level of 90,000 dollars being seen.