🚨 Breaking Crypto News 🚨 #Bitcoin is retesting the lower band of support from the bull flag!
As of today, September 7, 2024, $BTC is trading at approximately $54,550. The price has been volatile recently, experiencing a drop to $52,530 before recovering slightly. This decline was driven by weaker than expected U.S. jobs data, which has increased concerns about a potential economic slowdown. As a result, investors are avoiding riskier assets like Bitcoin.
Additionally, Bitcoin ETFs have seen significant outflows, particularly in the U.S. market, where $211 million was withdrawn over the past few days. This signals a broader weakening of investor sentiment, which has contributed to the downward pressure on BTC's price.
On the technical side, Bitcoin remains highly influenced by broader macroeconomic factors, and the market could see continued volatility if the economic outlook does not improve.
🌿 Altcoins 🌿
$ETH is up around 2% at a price of $2,280 as we expect a small recovery in a couple of hours.
$DOGE is up 3.5% today reaching $0.095.
🔥 Futures Trading 🔥
Be very careful as BTC is at a Critical Support Level and can jump any time. Make sure you use a stop loss in every trade as the market will soon recover.
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