Live updates: A drop below $84,000 could put $80,000 in play for bitcoin
Bitcoin is currently trading near the top of its recent range, though analysts warn that a drop below $84,000 could trigger a decline toward $80,000. Meanwhile, broader market sentiment is being influenced by cooling U.S. Treasury yields and upcoming Federal Reserve meeting minutes.
Why it matters
Bitcoin's price action is currently serving as a bellwether for investor risk appetite amidst shifting macroeconomic conditions and geopolitical tensions.
ZEC led the majors with a gain of nearly 2% to about $1,360. DOGE was the laggard, down nearly 2%. SOL fell 1%, and ether, XRP and BNB each slipped less than 1%, CoinDesk data shows.
According to FxPro, bitcoin briefly slid to $85,200 before European trading opened. It's still near the top of the range it has traded in for the past two weeks. The run of higher lows that began at the start of last week is under threat, the firm said, but hasn't broken yet.
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