Bitcoin moved within the range of 62373-66128 during the day
At the time of writing the Review, the price of Bitcoin was 65735
Market capitalization 2.35 trillion, dominance index 55.91%, fear index 69
Everything is standard at the fund - growth again. The S&P 500 closed up 0.64% at 5,667.
The dollar index is again slightly below 103.9, the price of gold has updated its maximum and is approaching 2500.
The market is confident in the rate cut in September and in the Fed's transition to easing monetary policy. This is logical - the Fed has no other choice.
Rate cuts are expected in Canada, the UK, and the EU. There will soon be much more money in the world again.
It is clear that the banquet cannot last forever. And they will definitely bring the bill for it. The scheme “the longer the rise, the less time left before the fall” also works here.
But barring geopolitical and/or domestic turmoil in the US now, there is still a window for growth.
True, the likelihood that things will not happen without shocks is also very high.
Today inflation data will be released in the UK and the EU (9-00 and 12-00 Moscow time).
They will not have a strong impact on the market, but they may cause volatility in the dollar index.
Bitcoin has worked out the priority version of yesterday's Review. He easily digested the news about the next movements of mt.GOX Bitcoins and statements about payments to clients. We look forward to the appearance of information about the actual amounts of payments; it will be very interesting.
At night, Bitcoin updated its next local highs above 66K. But it has not yet been possible to gain a foothold and now the price of the main cryptocurrency is still within the framework of the priority option of yesterday’s Review (just at its upper limit).
The factors of growth and decline that I spoke about remain in force. The growing greed index is an additional factor in favor of a possible small correction.
Alts are lagging behind Bitcoin again. Ether tried to take 3500, but couldn’t. Despite the growth of some alts by more than 20-25%, they remain extremely undervalued. With stable Bitcoin and good news on ETH-ETF, they will take their toll quite quickly.
The priority option for today is Bitcoin in a range with a lower limit at 63500-63000 and an upper limit at 65800-66200
Alternative - consolidation above 66200
