The post 5 Key Reasons That Could Crash Bitcoin Price to $30,000 appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) price shows no signs of revival as it trends lower. Veteran trader Peter Brandt also acknowledges this bearish BTC outlook. Brandt hints that it is not a good look for the world’s largest crypto by market capitalization. However, the first two weeks of September will decide if Bitcoin will continue its bull run or trigger a brutal crash to $30,000. Bitcoin $BTCThree things to note1. Ongoing series of lower highs, lower lows2. Downward slope of lows shows lack of energy3. No other post halving time in BTC history when new ATH has taken this longMake of all this what you might pic.twitter.com/8XjRAKpcbb — Peter Brandt (@PeterLBrandt) September 3, 2024 Reasons Why Bitcoin Price Could Continue its Crash Here are 5 key reasons why Bitcoin price could crash to $30,000: Bearish Bitcoin price structure Uncertain macroeconomic conditions US election results  BTC’s bearish on-chain metrics Bearish Bitcoin price structure Bitcoin price action is a great example of buying pressure exhaustion. As a result, BTC has set up multiple lower highs and lower lows since the March 2024 all-time high (ATH) of $73,835.  Clearly, the BTC’s sideways movement suggests a power struggle between buyers and sellers. If the outlook remains the same, BTC price could trigger a steep correction to the next key levels – $43,800 to $41,350, $30,450, and $27,200.  BTC Price 3-day chart Uncertain macroeconomic conditions The Bank of Japan’s interest rate hike in late July, coupled with the weak Nonfarm Payrolls data, triggered a 30% correction in Bitcoin price and 10% for the S&P500 index. This outlook caused recession fears to run rampant.  If the jobs data on September 6, comes in lower than expectations, recession concerns and rumors are likely to come back. The US Federal Reserve’s interest rate decision on September 18 could be the nail…

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Filed under: News - @ September 4, 2024 2:25 pm