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BTC price peers over the cliff at $25,000. Should investors look for shelter or perceive an opportunity? Bitcoin stands at the edge of a bearish breakdown, with a small possibility that the $25,000 support level could hold. On Sept. 11, Bitcoin (BTC) broke from its parallel range between $25,500 and $26,500, falling to an intraday low at $24,950. A daily close below $24,750 threatens a drop to the sub-$20,000 range, but there's a slight chance that the bullish momentum could revive. According to pseudonymous trader Horse, Bitcoin at $25,000 presents a short-term buying opportunity as it's the “best area to trap sellers” and “arguably the best place for long contextual” risk to reward ratio. I feel like the chances that the market smokes this level after the first major test is slim. Seems like the best area to trap sellers, and arguably the best place for long contextual R:R I'll catch a falling knife. pic.twitter.com/eFNMzBCPJW — HORSE (@TheFlowHorse) September 11, 2023

The strength in the S&P 500 and weakness in the U.S. Dollar Index could limit the short-term downside in Bitcoin and select altcoins. The S&P 500 Index (SPX) has gained for five consecutive weeks, the first such instance since November 2021. In comparison, Bitcoin (BTC) is trading well below its local high of $31,000, made on April 14. This shows a clear divergence between the performance of the two asset classes. Some analysts expect Bitcoin’s range-bound action to continue for some more time. Cryptocurrency traders will be looking for some positive triggers that could push the price above the range. One such rumor floating in the markets is that after BlackRock filed for a Bitcoin spot exchange-traded fund, Fidelity Investments may also follow suit. If that happens, it will be a positive sign for the markets. Daily cryptocurrency market performance. Source: Coin360 Another positive for the cryptocurrency markets has been that the U.S. Dollar Index (DXY) softened in the past

The U.S. dollar index (DXY) is gaining ground more rapidly than Bitcoin after fresh economic data surprises from Washington. Bitcoin (BTC) hit its highest in almost a week on Feb. 15 as "extremely positive" economic data boosted risk asset sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price aims for $23,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 2.2% on the day to eye a reclaim of $23,000. Analysts were already predicting volatility, with the latest economic numbers from the United States delivering a pleasant surprise. Retail sales and the Empire State Manufacturing Index both surpassed market expectations, showing a more resilient economy despite restrictive policy at the Federal Reserve. "Extremely positive numbers. Core Retail Sales and Retail Sales both smash expectations, while also Manufacturing Index more positive than expected," Cointelegraph contributor Michaël van de Poppe, founder and CEO

BTC price sees short-term relief as the DXY falls, but Bitcoin analysts warn that Japan's move means carnage for global markets. Bitcoin (BTC) recovered from an overnight dip on Dec. 20 as Japan’s central bank sparked chaos on global financial markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst likens BoJ policy to FTX Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to near $17,000 after falling over 3% through the course of Dec. 19. The largest cryptocurrency benefitted from flash U.S. dollar weakness, this coming on the back of a surprise policy tweak from the Bank of Japan (BoJ). Long a deflationary environment with ultra-low interest rates, Japan woke up to a sea change on the day as policymakers lifted the cap on bond yields. The yen instantly gained against the dollar , while Japan’s Nikkei plummeted. Reacting, Bitcoin analysts were anything but jubilant despite the short-term benefits for BTC/USD. Japan, seeming to follo