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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-potential-drop-to-31500/" data-wpel-link="internal">Bitcoin Faces Potential Drop to $31,500</a> 
Bitcoin (BTC) returned to its starting point days after testing the $65,000 level. Last month, it lingered around the $50,000 levels. The price, which failed to maintain above $65,000, previously attempted higher resistance regions. This process of forming lower peaks could lead to frustrating results. 
<h2 style="text-align: justify" id="bitcoin-may-drop-to-31-500">Bitcoin May Drop to $31,500</h2> 
Renowned <a href="https://en.coin-turk.com/expert-crypto-analyst-shares-year-end-insights-on-bitcoin-and-api3-coin/" data-wpel-link="internal">crypto analyst</a> Ali_Charts shared a chart indicating that BTC might form deeper lows. Although September is notorious for declines, the target it gives could turn altcoins into a bloodbath. So, what drives the concern of a drop to $31,500? What could cause Bitcoin (BTC) to fall to $31,500? The answer lies here. 
<blockquote> 
 “Warning! 
 Historically, when Bitcoin’s price falls below the Realized Price/Liveliness Ratio, it usually retreats to its Realized Price. The level it needs to hold is at $51,600, and closures below this could open the door to $31,500.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-386900 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/Bitcoin-Kac-Dolara-Duser-Eylul-2024.jpg" alt="" width="2414" height="1474"> 
Such a scenario for altcoins could result in losses exceeding 80%. Considering the weakness in buyer liquidity and potential sales triggered in the ETF channel, the results could be severe. 
<h2 style="text-align: justify" id="eth-and-luna-coin-price-targets">ETH and LUNA Coin Price Targets</h2> 
Daan Crypto Trades is interested in Ethereum (ETH) prices. The analyst, who believes the largest altcoin by market value is preparing for strong volatility, warns that closures below $2,103 are extremely risky. However, he notes that the price previously made a strong jump to $2,800 from this region, making it a good chart to watch. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-386901 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/Daan-ETH-Grafik-Yorum.jpg" alt="" width="1164" height="806"> 
<blockquote> 
 “ETH has returned to the major support level below. 
 No one is still in this region. Also, I don’t want to see it test this level many more times. It’s a good level to watch.” 
</blockquote> 
The LUNA Coin chart is quite clear. There is significant support at $0.31, and closures below this will target a new ATL level. For now, there have been no permanent closures below the key region, and bulls are far from setting a new all-time low price below $0.25. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-386903 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/LUNAUSDT_2024-09-07_20-07-29.png" alt="" width="1814" height="836"> 
Given the current market situation and the risk of a larger drop in September, many LUNA Coin <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> have already sold. However, if BTC drops sharply, losses could increase as investors who think they are buying the dip might also give up on LUNA Coin. 
The post <a href="https://en.coin-turk.com/bitcoin-faces-potential-drop-to-31500/" data-wpel-link="internal">Bitcoin Faces Potential Drop to $31,500</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Faces Potential Drop to $31,500

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