BTC is on the brink of losing a key level that could see prices plunge to $93,000 before a stronger final quarter, Bitfinex analysts cautioned.
The current macro backdrop has rarely been more favorable for risk assets, and the market hasn't fully priced in what's coming, a report said.
Recovery from oversold momentum indicator, the upcoming Pectra upgrade and Wednesday's CPI report are among the catalysts that could fuel an ETH rally,, a 10x Research report noted.
Wednesday's FOMC meeting carries uncertainty for the market, with investors still divided on the magnitude of rate cut.
Bitcoin could rally 10%-15% more in case the SEC approves spot bitcoin ETFs, LMAX strategist Joel Kruger noted.
Bitcoin cratered almost 10% below $41,000 early Wednesday around the time Matrixport's report about warning of a spot BTC ETF decline, but it was more likely due to a leverage flush as the market overheated, a K33 analyst said in an interview.