Bitcoin (BTC) kept up renewed pressure on $28,000 into the Oct. 8 weekly close as geopolitical uncertainty entered traders’ radar. Data from Cointelegraph Markets Pro and TradingView showed BTC price performance avoiding downside volatility over the weekend. The pair recovered from a snap retest of $27,000 on Oct. 6, this coming thanks to surprise United States employment data which diverged from policy tweaks by the Federal Reserve.Now, $28,000 resistance formed the main point of interest for market participants going into the new week. Popular trader Skew said that major bidding power was still required in order to flip $28,000 to support. Fellow trader Daan Crypto Trades meanwhile cautioned on going short BTC should a sudden breakout occur, as this might form the start of further upside.In the wake of events in Israel, others flagged geopolitical instability as a potential BTC price catalyst to come. Among them was Michaël van de Poppe, founder and CEO of trading firm MN Trading. He predicted that Bitcoin could potentially reach $30,000 as worldwide uncertainty grows. At just under $28,000, BTC/USD was up 3.5% month-to-date.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Michaël van de Poppe, Daan Crypto Trades, Skew, Arthur Hayes |
| Companies | Cointelegraph Markets Pro, CoinGlass, X, MN Trading, TradingView, Federal Reserve |
| Currencies | Bitcoin, Ethereum |
| Securities | None |
