The price of Bitcoin (BTC) has failed to break through the $40,000 barrier, indicating that confidence in the cryptocurrency market remains sluggish.
BTC has been declining for more than a month. If it falls below $38K, it could fall all the way to $32K. While the crypto market is now bearish, another crash is improbable, at least until the FOMC meeting concludes.
Traders’ enthusiasm in the cryptocurrency market continues to erode as a result of the market’s prolonged fall and geopolitical uncertainty. Veteran trader Peter Brandt anticipates a test of the Bitcoin (BTC) price below $32,000.
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Brandt stated in a tweet that Bitcoin has completed a bearish course, plunging below the $38K