Bitcoin is witnessing volatility, dropping below the $64,000 mark on September 30. Despite this, according to CoinGlass data, September remains the strongest month with the highest gains over the past few years.
S&P 500 Index Price Analysis
The S&P 500 Index is holding above the 5,670 level, but the upward move is losing momentum. This indicates reluctance among market participants to buy at higher levels. A correction to 5,670 is possible, which is a strong support level. A break below 5,653 could signal profit booking by short-term traders and lead to a decline to the uptrend line.
US Dollar Index Price Analysis
The US Dollar Index (DXY) is facing difficulties at the 100.99 level, indicating a continuing downtrend. Sellers aim to push the price to the critical support level of 99.57. If this level is breached, it could accelerate the selling.
Bitcoin Price Analysis
Bitcoin closed above $65,000 on September 26, but subsequent selling pressure pulled the price back below that level on September 30. The 20-day EMA at $62,722 is a crucial support. If the price bounces off this level, buyers will try to push it above $66,500. On the contrary, a break below the 20-day EMA could sink the BTC/USDT pair to $60,300.
Bitcoin and altcoins continue to show volatility amid market trends. It's essential to monitor technical levels and market dynamics to forecast potential scenarios.
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