Bitcoin analysts are eying the weekly close to gauge Bitcoin’s price trajectory for next week, as traditional and crypto markets are lacking direction amid a mix of global trade war fears paired with easing inflation concerns.
Bitcoin’s (BTC) price may see more downside next week unless it manages to close the week above the $85,000 psychological mark, according to Ryan Lee, chief analyst at Bitget Research.
“Bitcoin’s relief rally after the FOMC meeting and lower CPI readings has analysts eyeing a weekly close above $85,000, as critical for resuming upside momentum,” Lee told Cointelegraph, adding:
“A close above this level could prevent a drop to $76,000 and signal strength, while $87,000 would provide even clearer bullish confirmation. Macro factors like steady rates and cooling inflation support risk assets, but the Sunday close will be decisive.”
BTC/USD, 1-year chart. Source: Cointelegraph
Bitcoin’s price has been lacking momentum, rising only 0.9% over