the-price-of-bitcoin-fell-again-to-69-thousand-dollars-what-is-the-reason

The price of bitcoin fell again to 69 thousand dollars: what is the reason

 • 24064 переглядiв

The value of bitcoin declined, falling below the відм 70,000 mark, amid the strengthening of the dollar after the publication of important US data on wages in the non-agricultural sector, writes UNN with reference to Investing.com.

Details

Bitcoin lost 1.32% of its value in 24 hours, falling to.69,505. 5, despite the fact that the token increased by more than 4% in a week after leaving the trading range of 6 60,000 to. 70,000, which lasted from mid-March.

Rising expectations of a Fed interest rate cut through September, supported by weak US economic performance, spurred the growth of cryptocurrency markets, boosting interest in high-risk assets such as bitcoin. These expectations also fueled the value of the dollar, which contributed to high-risk assets.

Technical analysis from 10x Research suggests a possible rise in bitcoin to.83,000, drawing attention to the significant bullish pattern that is forming on the daily chart.

If bitcoin exceeds.72,000, it will confirm a breakout from the inverted head-and-shoulders model, which may occur early next week.

In the broader cryptocurrency market, major altcoins also showed a drop on Friday due to the latest employment data, but most of them show potential for weekly growth due to optimism about a possible spot Ether ETF.

Ether lost 1.64%, trading at.3,691. 48, while other altcoins also showed changes in price.

recall

According to data from the investment company Bernstein, the total value of spot exchange-traded funds for bitcoin and ether may grow to 4 450 billion in the next few years, and the bitcoin exchange rate will reach 9 90 thousand by the end of 2024.

Popular

Canada completes transfer of NASAMS air defense systems to Ukraine

 • 20297 переглядiв

German Foreign Minister Burbock divorces after 17 years of marriage

 • 29187 переглядiв

Ukrainian “Shchedryk” shines in Chanel's holiday campaign

 • 42856 переглядiв

News by theme