Bitcoin Price Drops 2% to $109,534 as Czech Regulatory Scandal Weighs on BTC Sentiment

Fast

• BTC that is currently being traded at $ 109,534.47 (-2.02% in 24 hours) • Bitcoin’s RSI falls to 38.00, which is approaching over-sold territory with potential Bouncepounter signals • Czech Minister of Justice Disassing counter-work.

What drives Bitcoin price today?

The BTC prize stood for downward pressure after the resignation of the Czech Minister of Justice Pavel Blažek about a Bitcoin-related scandal. The controversy emerged when it was revealed that the Ministry of Justice accepted a 468 Bitcoin donation of convicted criminal Tomáš Jiřikovský without the correct verification, increasing money laundering.

This regulatory development contrasts sharply with the exceptional September performance of Bitcoin, where BTC rose 7.39% earlier this month and marked its best September. The positive momentum of this historical monthly performance is temporarily overshadowed by new care for the regulations, which shows how quickly the sentiment can shift in cryptocurrency markets.

The timing of this scandal is especially remarkable because it comes during what Bitcoin’s strongest September ever has been, which reduces the historical pattern of the September cryptocurrency. However, the immediate market reaction suggests that traders give priority to the regulatory risk over seasonal performance trends.

BTC Technical Analysis: Signals transferred are emerging

Bitcoin -technical analysis reveals more and more over -sold circumstances that can indicate a potential reversal. The BTC RSI has fallen to 38.00, sitting on neutral territory, but approaching the overall threshold of 30. This level often offers buying opportunities for contrary traders, especially in combination with other technical factors.

The MACD indicator shows with regard to Beerarish Momentum with a lecture of -546.9169 and a negative histogram of -669.7847. This suggests that the current downward trend retains the power, although the RSI divergence could indicate that the momentum is starting to decrease.

The position of Bitcoin compared to its Bollinger tires offers extra insight, with BTC trade near the lower tire on a %B position of 0.0296. This extreme positioning often precedes the short -term bounces, because the cryptocurrency has found support in the vicinity of this technical level in recent trade sessions.

The advancing average structure remains mixed with Bitcoin trade among shorter term averages (SMA 7 in $ 112,486, SMA 20 on $ 114.005) but maintains its position above the critical SMA 200 on $ 104.151. This configuration suggests that the wider upward trend remains intact despite the weakness in the short term.

Bitcoin -Prize levels: important support and resistance

Critical Bitcoin supply levels are tested when the BTC price is approaching important technical zones. The immediate support at $ 108,631.51 represents today’s 24-hour low and serves as the first line of defense for Bulls. A break below this level can speed up the sale in the direction of the stronger support zone for $ 107,255.

On the resistance side, BTC is confronted with immediate overhead pressure at $ 117,900, with a stronger resistance placed at $ 124,474. The Cryptocurrency should reclaim these levels to resume its wider upward trend and to challenge its 52 -week highlight of $ 123,306.43.

The current trading range between $ 108,631 and $ 112,246 offers clear parameters for short -term traders. On the basis of Binance Spot market data, the daily average actual real reach of $ 2,352.28 normal volatility conditions suggests that these support and resistance levels must be significant.

Do you have to buy BTC now? Risk-willing analysis

For aggressive traders, the current BTC price promotion offers a potential contrary opportunity. The combination of Oversold RSI conditions and the proximity of important support levels offers favorable risk-receiving ratios for those who are willing to buy weakness. Stop-Loss orders under $ 107,255 would limit the downward risk and aimed at the resistance level of $ 117,900.

Conservative investors would rather wait to confirm support at current levels before entering positions. The regulatory uncertainty of the Czech scandal can cause extra volatility, making patience a wise strategy. The average of the dollar costs in positions could reduce the timing risk and at the same time benefit from any continuous weakness.

Swing traders must closely follow the BTC/USDT pair on signs of accumulation in the vicinity of support levels. The technical set -up suggests a potential bouncing, but confirmation by increased volume and RSI divergence would strengthen the bullish case. Risk management remains crucial in view of the mixed technical signals and continuous regulatory concerns.

Conclusion

Bitcoin price campaign reflects the ongoing tension between strong performance of September and fresh regulatory concerns. Although the Czech Minister of Justice has created Scandal in the short term, the technical image suggests that BTC can approach over -sold circumstances that can cause a assistance. Traders must keep a close eye on the support level of $ 108,631, because a interruption below can indicate a further weakness to $ 107,255. Conversely, a bounce of the current levels with improving RSI measurements can focus on the $ 117,900 resistance zone within the next 24-48 hours.

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