Many ongoing problems globally, especially the Israel-Hamas war, have also dragged the Bitcoin (BTC) price into decline.
The Israel-Hamas war, which has become increasingly heated in recent days, has shaken the money markets. While a decline was observed in almost all markets, this situation was inevitable on the BTC side as well. The pioneer of cryptocurrencies, which rose from $ 28,111 to $ 27,269 within hours, experienced a total decrease of 3 percent. How could a large-scale danger such as war, as well as the continued tightening of monetary policies, affect BTC? What levels should be considered?
Selling pressure may increase and declines may deepen!
Considering that cryptocurrencies do not like chaos, it will not be surprising if the sell-side transactions in BTC increase. BTC, which managed to find support at $ 27,482 as of yesterday, may face larger declines if it cannot maintain this level. The areas where buyers can play a role in such a situation are 27,151 – 26,276 – 26,034 and 25,325 dollars respectively. With daily closes below $25,325, bears will completely dominate.
The stagnation of the Israel-Hamas war, the decrease in the tightening policy and positive developments regarding crypto may push the BTC price up again. In such a situation, the resistance levels that can be followed are 28,120 – 28,815 and 29,547 dollars respectively. Especially settling above $28,000 is of critical importance for BTC.
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