The geopolitical tensions between the United States, China, and Russia have temporarily eased. As this pause unfolds, Bitcoin 
$77,485 prices are advancing towards the 124,000-dollar mark, stirring anticipation about the potential outcomes of this market test. Should this price surge falter, altcoins, which have struggled to rise substantially, might face renewed declines. This article delves into various analysts’ perspectives on the current scenario.
Fed Announcements
Despite the absence of economic data due to a government shutdown, Federal Reserve members assert they possess the necessary information to decide on interest rates in October. The latest employment figures and renewed rate cuts are core drivers of the current uptrend, underlining the importance of ongoing Fed communications. Jefferson highlighted significant points in his ongoing discourse:
“The reactions to tariffs remain limited so far, but price level adjustments could extend longer than anticipated. The Fed has sufficient data to fulfill its mandate, and we will be well-informed entering the October meeting. I am striving to understand the potential impact on AI and productivity. Maintaining inflation above target to make up for past deficiencies proved impractical. Removing the word “average” from our framework was crucial, though explaining its implications was challenging.”
Meanwhile, Logan recently remarked, “We need to be genuinely cautious with rate cuts,” highlighting that inflation persists as a significant risk.
Bitcoin Analyst Insights
Short-term closures above $121,500 continue, and maintaining the key zone following the $124,000 test is essential. If short-term investors fear a deeper decline, they might rapidly sell to secure recent gains. Alex Krüger assessed the situation, noting:
“120K should not be revisited for a while as we’ve witnessed a breakout at 122K with leverage ratios climbing. If 120K returns to play, expect some leveraged unwinding rather than it serving as support. Novices often see round numbers as support, which is a mistake. Hence, as I wrote earlier this week, one should have positioned below 120K anticipating the breakout. Wishing everyone a great weekend.”
ANBESSA also shared the above chart, forecasting consolidation followed by an upward trend.
“We’ve returned to 123K, the third test suggests some consolidation followed by a rise.”
