While the greenback has been rising higher, the Japanese yen tapped a 24-year low and Japan decided to intervene in foreign exchange markets (forex) for the first time since 1998. Reports say the Bank of Japan conducted the first forex intervention in 24 years, after the Japanese central bank kept its benchmark bank rate suppressed…
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Digital currency markets, precious metals, and stocks dropped another leg down on Monday following the drop markets saw last Tuesday. Last week’s fall was one of the worst weeks in more than three months as market strategists believe a sizable Fed rate hike is coming this week. Bank of America’s analysts led by Savita Subramanian…
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Analysts and traders strongly adhere to the “Bitcoin is inversely correlated to the strength of the U.S. dollar index” thesis, but a closer look at the data suggests otherwise. Presently, there seems to be a general assumption that when the U.S. dollar value increases against other global major currencies, as measured by the DXY index,…
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A comedown for U.S. dollar strength provides the fuel for a short squeeze in Bitcoin liquidating over $60 million of shorts. Bitcoin (BTC) bounced past $20,000 on Sept. 9 as a much-anticipated “short squeeze” took hold. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC could go to $25,000 Data from Cointelegraph Markets Pro and…
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Optimism increases over a macro Bitcoin bottom as daily gains top 9% for BTC/USD on the Wall Street open. Bitcoin (BTC) circled $21,000 at the Sep. 9 Wall Street open as newly-won gains endured. Meanwhile, the total cryptocurrency market capitalization has crossed back above the $1 billion mark. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView…
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Old all-time highs from 2017 come back to haunt Bitcoin as BTC price action fails to see relief this “Septembear.” Bitcoin (BTC) starts the second week of September still trying to cement $20,000 as support as the bears clinch control. The largest cryptocurrency emerges from a sideways weekend with a weekly close almost exactly at…
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A matter of a few hundred dollars could separate BTC price action from a “short squeeze,” one trader believes. Bitcoin (BTC) returned to $20,000 on Sep. 2 amid renewed bets on a “short squeeze” higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader eyes $20,700 short squeeze trigger Data from Cointelegraph Markets Pro and TradingView…
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Bitcoin drops with U.S. stocks as the dollar finds momentum for an attack on earlier twenty-year highs. Bitcoin (BTC) fell back below $20,000 after the Aug. 30 Wall Street open as data showed hodlers selling at a loss. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView June lows look increasingly attractive Data from Cointelegraph Markets Pro…
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A familiar tale of losing stocks and a surging greenback greets Bitcoin traders this week as $20,000 fails to sustain as support. Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout. After the U.S. Federal Reserve reinforced hawkish comments on the inflation outlook,…
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The Central Bank of Russia has relaxed some limitations for Russian banks selling U.S. dollars and euros to the public. The increased supply of foreign cash may affect the crypto market in the country as currency restrictions have been a driver of increased demand for digital coins. Monetary Authority of Russia Expands Citizens’ Access to…
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