Bitcoin (BTC) has been in a sideways price action pattern for several months, but the bears are trying to seize control. The resolution of the large $55,724 to $73,777 range in favor of the sellers could start a downtrend.

Arthur Hayes, former CEO of crypto exchange BitMEX, has projected Bitcoin to fall below $50,000. A similar view was offered by veteran trader Peter Brandt, who has a target of $46,000 for Bitcoin.

However, not everybody shares the bearish view. Some analysts anticipate the macro factors to surprise the bears. "Although September is historically a negative month for BTC, the combination of a Fed [United States Federal Reserve] rate cut and a relatively robust US economy could surprise the bears," Tyr Capital chief investment officer Ed Hindi told Cointelegraph.

Source: https://cointelegraph.com/news/price-analysis-9-6-btc-eth-bnb-sol-xrp-doge-ton-ada-avax-shib

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