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Despite having confirmed the second highest weekly close in its history on Sunday, the price of Bitcoin is facing difficulties in the macroeconomic scenario to resume its upward trend.
Bitcoin BTC tickers down R$369,268 consolidated a green candle with an increase of 2.8% at the weekly close of Sunday, June 9, remaining stable just above US$69,000, after the lightning drop triggered by the release of data on expansion in the job market in the United States United. Although the $69,650 mark confirmed Bitcoin's second highest weekly close in its history, the macroeconomic scenario continues to pose as a solid barrier to the resumption of the cryptocurrency bull market. In this sense, the week that begins will be decisive for the future of Bitcoin's price action in the short term. Scheduled for Wednesday, June 12, is the release of the US Consumer Price Index (CPI) for the month of May and the meeting of the Federal Open Market Committee (FOMC), which will offer clues on the direction of policy monetary policy of the US Central Bank (Fed) for the remainder of 2024. Although the European and Canadian central banks have made their first interest rate cuts in years, it is unlikely that the Fed will act in the same way, as inflation remains more than a percentage point above the 2% target and data of the labor market send contradictory signals about the situation of the American economy.
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• Satoshi Nakamoto is Brazilian traumatized by inflation in film about the creation of Bitcoin produced with AI
Since reaching an all-time high of $73,750 on March 14 and undergoing a correction thereafter, Bitcoin price has repeatedly attempted to overcome resistance around the $72,000 range – and has been rejected on each occasion. The range continues to be decisive in pushing Bitcoin towards new all-time highs in price discovery mode, says analyst Arthur Driessen, from Crypto Investidor:
In a bearish scenario, Bitcoin could “retest the $61,000 region as support before attempting a breakout to the top again,” says Driessen.
$BTC #eua
Bitcoin BTC tickers down R$369,268 consolidated a green candle with an increase of 2.8% at the weekly close of Sunday, June 9, remaining stable just above US$69,000, after the lightning drop triggered by the release of data on expansion in the job market in the United States United. Although the $69,650 mark confirmed Bitcoin's second highest weekly close in its history, the macroeconomic scenario continues to pose as a solid barrier to the resumption of the cryptocurrency bull market. In this sense, the week that begins will be decisive for the future of Bitcoin's price action in the short term. Scheduled for Wednesday, June 12, is the release of the US Consumer Price Index (CPI) for the month of May and the meeting of the Federal Open Market Committee (FOMC), which will offer clues on the direction of policy monetary policy of the US Central Bank (Fed) for the remainder of 2024. Although the European and Canadian central banks have made their first interest rate cuts in years, it is unlikely that the Fed will act in the same way, as inflation remains more than a percentage point above the 2% target and data of the labor market send contradictory signals about the situation of the American economy.
Não
• Satoshi Nakamoto is Brazilian traumatized by inflation in film about the creation of Bitcoin produced with AI
Since reaching an all-time high of $73,750 on March 14 and undergoing a correction thereafter, Bitcoin price has repeatedly attempted to overcome resistance around the $72,000 range – and has been rejected on each occasion. The range continues to be decisive in pushing Bitcoin towards new all-time highs in price discovery mode, says analyst Arthur Driessen, from Crypto Investidor:
In a bearish scenario, Bitcoin could “retest the $61,000 region as support before attempting a breakout to the top again,” says Driessen.
$BTC #eua
The US government selling 9,800 Bitcoin for $215 million, exactly 1 year ago. Worth $700 million today
#trendingtopic #hottrends #usa #eua $BTC
#trendingtopic #hottrends #usa #eua $BTC
