Bitcoin price slow to react as US dollar rally stops at 20-year highs
A failure to hold $40,000 comes as the U.S. dollar currency index finally weakens. Bitcoin (BTC) stayed rangebound on April 29 as a welcome retracement saw the U.S. dollar come down from 20-year highs.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader eyes $40,600 as "crucial" breakerData from Cointelegraph Markets Pro and TradingView showed BTC/USD hugging support near $39,300 after failing to hold $40,000.The pair had managed some modest upside despite a “parabolic rally” in U.S. dollar strength throughout the week.The U.S. dollar index (DXY) finally began cooling Friday....
Related News
Bitcoin price is once again approaching current record highs, and now that the momentum is back in favor of bulls, new all-time highs could soon be just ahead. While this is mostly nothing new for the leading cryptocurrency by market cap, the recent rally back to local resistance has happened all while the dollar has strengthened significantly. What exactly does this mean for the ongoing cryptocurrency bull market? And why is the dollar suddenly performing […]
Fresh gains come as the weekend preserves previous performance and Bitcoin heads to $59,000 on Monday. Bitcoin (BTC) is challenging familiar but significant all-time highs as a new week gets underway, rallying to $58,000 on Monday.After a surprise rally on Friday, the largest cryptocurrency saw a slow comedown through much of the weekend. This turned on its head overnight on Sunday, however, and now BTC/USD is back fighting resistance near $60,000.Cointelegraph takes a look at what the coming days might have in store for Bitcoin price action with five factors that could help shape it.....
SushiSwap’s native token, SUSHI, has undergone a strong rally over the past 24 hours. The leading cryptocurrency is up 10% in the past 24 hours, pushing to multi-week highs after a few days of slow price action. SUSHI’s rally comes as Bitcoin has thrust higher, pushing to new all-time highs at $29,500. The leading cryptocurrency […]
Advertisements for Auroracoin, the Icelandic cryptocurrency, have begun to appear at bus stops all around the country. The advertisement, consisting only of “Auroracoin” in text and the coin’s logo on a white background. The advertisements are part of a public awareness campaign by the Auraráð, or Auroracoin, Foundation. According to Pétur Árnason, Auraráð Foundation chairman, these advertisements are meant to lay the groundwork for a resurgence of the Icelandic cryptocurrency later this year. “We have been preparing for Auroracoin promotion in Iceland for over a year now as we wanted to....
Bitcoin price made another attempt to gain momentum above $13,200 against the US Dollar, but failed. BTC is likely to react to the downside if it continues to struggle near $13,200 and $13,300. Bitcoin corrected lower below $13,000, but it found support near $12,800. The price is back above the $13,000 zone and the 100 […]