Bitcoin Price Drops Amid Geopolitical Uncertainty and Profit-Taking

Bitcoin's price fell by 1.22% to $83,428 on September 28, marking a decline from its previous high of above $85,000.

The drop comes as investors weigh in on the uncertainty surrounding the US-Iran conflict and take profits after BTC's recent run above $87,000.

Analysts see consolidation around the support level of $83,300-$83,500, with some predicting a possible breakthrough to the resistance zone at $84,000-$84,100.

Avinash Shekhar, Co-Founder & CEO of Pi42, noted that 'Bitcoin's current consolidation is becoming a test of how much geopolitical uncertainty the market can absorb without disrupting the broader recovery.'