The price of bitcoin fell again to 69 thousand dollars: what is the reason
Kyiv • UNN
The value of bitcoin fell below нижче 70,000 amid the strengthening of the dollar after the publication of important data on wages in the non-agricultural sector, but, according to technical analysis, it still has the potential to grow to 8 83,000.
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
