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Bitcoin traders hope $27K holds as BTC price ignores volatile US dollar

06e7d6ae-e731-4020-8f45-16854bca5ac5.jpg

Bitcoin looks like a stablecoin compared to the U.S. dollar index on the day, with BTC price levels of interest close to spot.

Bitcoin (BTC) stayed glued to $27,500 at the Oct. 4 Wall Street open as attention continued to focus on rampant United States yields.

1887bad0-723e-4554-b6f5-475a106f5b28.pngBTC/USD 1-hour chart. Source: TradingView

Analysis: $27,000 now "key" for BTC price

Data from Cointelegraph Markets Pro and TradingView showed a calm day for BTC price action while U.S. dollar volatility ruled.

After its own spate of hectic trading to start the week, Bitcoin was once more seeking direction, with market observers marking out key price points.

Popular trader Skew flagged market takers selling toward $27,600, lending “importance to this price level reclaim.”

“Get that reclaim & decent pop will come,” he predicted in part of the day’s X analysis.

$BTC
takers selling into $27.6K

adds importance to this price level reclaim

Get that reclaim & decent pop will come

note coinbase CVD (actual buyer led price into $27.6K) pic.twitter.com/Jr6MDb7ru1

— Skew Δ (@52kskew) October 4, 2023

Fellow trader Crypto Tony additionally highlighted $27,000 as the line in the sand to the downside.

$BTC / $USD - Update

Holding that $27,000 low, so i remain long for the time being and would be shorting if we lose this low here, or pump up and reject hard as suggested on chart below pic.twitter.com/bSDjWWaJEU

— Crypto Tony (@CryptoTony__) October 4, 2023

Updating his own trading strategy, meanwhile, trader Mark Cullen likewise placed emphasis on $27,000 holding as support.

“Bitcoin getting a reaction from its first attempt into my zone & a tap of the break out trendline,” accompanying commentary stated.

“Market conditions in Tradfi aren't great so pressure's down. Lets see if BTC can hold this area for a while longer, until other markets stabilize. Holding 27k is key for $BTC!”
3aa844b4-89a3-4aa8-a4ae-5a0919cf61d8.pngBTC/USD annotated chart. Source: Mark Cullen/X

Bitcoin bides its time as dollar sees sharp retrace

As Cullen and others explained, the mood on legacy markets was decidedly less stable than Bitcoin on the day.

Related: Bitcoin analysts still predict a BTC price crash to $20K

This came thanks to U.S. 30-year bond yields surging to 16-year highs — something which got commentators wary of a potential meltdown to come.

Skew suggested that this angst over how macro forces would play out was responsible for the lack of significant BTC trading volume.

“Not much besides dipping toes in the water kind of bid other than that it's perps mostly buying,” another X post stated earlier.

“Market is likely trying to digest everything that is going on terms of risk parameters and exposure. Many are capitulating to cash imo under market distress.”

U.S. dollar strength delivered upheaval of its own prior to the Wall Street open, with the U.S. dollar index (DXY) swiftly dropping from levels not seen since Q4 last year.

As customary in recent times, BTC/USD continued to shake off snap DXY moves.

2db708ef-813b-4768-b1ac-676419f2b04f.pngU.S. dollar index (DXY) 1-hour chart. Source: TradingView

Commenting on the situation, Sven Henrich, founder of NorthmanTrader, showed that long term, DXY chart performance was behaving as expected.

“Amid all the chaos & volatility one amazingly consistent clean chart: The US dollar respecting the channel trend lines,” he told X subscribers.

“Negative divergence on recent highs at top of the channel. What happens with this will likely be one of the key market drivers for the rest of the year.”
e1b52d9c-5c05-4efb-80d8-cd814ae20d49.pngU.S. dollar index (DXY) chart. Source: Sven Henrich/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Source

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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