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. The selling in the crypto markets continued on Sept. 4, but a minor positive is that lower levels are attracting buyers. Trading firm QCP Capital said to its Telegram channel subscribers that 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, as they anticipate Bitcoin to plunge between 15% and 20% following the rate cuts. In a Sept. 2 note, they said that Bitcoin could bottom anywhere between $40,000 and $50,000.

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. Will Bitcoin break below the range, triggering further selling in altcoins? Let's analyze the charts of the top 10 cryptocurrencies to find out.

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

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