Bitcoin holds above $33,750 as analysts predict a pullback to the low $30k region

- The cryptocurrency market ended the week flat after Bitcoin hit its highest price since May 2022 on Tuesday, reigniting optimism across the cryptocurrency ecosystem and reminding traders what it's like to be in a crypto bull market.

Investors took this as a sign that the Fed will need to hold true to keeping interest rates “higher for longer,” and some are speculating that the central bank may need to raise rates further if inflation starts to climb again. Data provided by TradingView shows that after holding above support at $34,000 through the morning session, Bitcoin faced selling pressure in the afternoon that dropped the top crypto to a low of $33,395. At the time of writing, BTC trades at $33,800.“October Bitcoin futures prices a bit weaker in early U.S. trading Friday,” according to Kitco senior technical analyst Jim Wyckoff, who noted that “Prices hit a contract high Tuesday.

— Michaël van de Poppe October 26, 2023 Market analyst Crypto Tony said he is still looking for a spike to $36,000 before Bitcoin’s price corrects to the low $30,000 range.Still looking for that spike up to $36,000 before rejecting and letting the range begin. I will be long while we are above $30,000 personally, as we entered at $29,000

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