Nansen Sees Bitcoin Falling to $52,000-$58,000 as Fed Week Tests $67,300 Breakout
Updated
Updated · CoinDesk · Jul 27
Nansen Sees Bitcoin Falling to $52,000-$58,000 as Fed Week Tests $67,300 Breakout
1 articles · Updated · CoinDesk · Jul 27
Summary
$65,000 bitcoin is facing a pivotal week, with Nansen's Nicolai Sondergaard warning it could slide to $52,000-$58,000 unless buying conditions improve.
Falling bitcoin futures open interest, continued net selling pressure and weak spot ETF demand suggest the rebound lacks conviction, even after nearly 9,000 BTC left exchanges over the past week.
$67,300 for bitcoin and $2,000 for ether are the key technical levels analysts say must break to confirm a fresh crypto bull leg; ether's recent outperformance is viewed as a constructive signal.
Wednesday's Fed decision, Thursday's core PCE and GDP data, Big Tech earnings, and Friday's $13 billion-$14 billion bitcoin and ether options expiry could decide whether crypto breaks out or revisits June lows.