Today, Bitcoin (BTC) is trading at around $67,021, reflecting minor volatility. The price continues to consolidate as investors await fresh catalysts. After hitting a yearly high of $73,628 in March, BTC has now been fluctuating between the $66,000 and $70,000 range.
Currently, Bitcoin’s Fear and Greed Index is reading Fear at a score of 42. Despite the sentiment leaning towards caution, this might be an ideal entry point for long-term investors as fear often signals potential buying opportunities. However, a breakout above $70,000 is necessary to regain bullish momentum, with strong resistance levels around $69,000-$70,500.
On the downside, support is found around $65,000, and a fall below that could push BTC to the next support at $60,000. Over the short term, BTC’s price could remain range-bound unless triggered by significant external factors such as macroeconomic developments or institutional buying. (https://coincodex.com/article/47796/bitcoin-prediction-october-02-2024/)
Predictions remain mixed, with analysts leaning slightly bearish but cautious optimism growing as Bitcoin remains stable above critical support levels. Keep an eye on potential price movements as Bitcoin tests these support and resistance lines in the coming days.