Bitcoin bulls are attempting to keep the price inside the current range, but BTC's growing weakness could eventually lead to new lows under $49,000. Weakness in the United States equity markets pulled the cryptocurrency markets lower on Sept. 3, and the selling continued on Sept. 4, though lower levels are attracting buyers.

Trading firm QCP Capital said Bitcoin (BTC) and Ether (ETH) may enter a period of high volatility. Many analysts believe the expected interest rate cut by the US Federal Reserve on Sept. 18 will be positive for risk assets. However, Bitfinex analysts have a different view, anticipating Bitcoin to plunge between 15% and 20% following the rate cuts.

Bitcoin's risk of breaking below its long range is putting pressure on altcoins, which have continued to weaken. That pulled the total crypto market capitalization below $2 trillion, according to CoinMarketCap data. Analysts are divided on whether Bitcoin will break below the range, triggering further selling in altcoins.

Source: https://cointelegraph.com/news/price-analysis-9-4-btc-eth-bnb-sol-xrp-doge-ton-ada-avax-shib

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