Bitcoin Price Seen Climbing As Surge In Jobless Claims Can Trigger Crypto Rally
Bitcoin, as with other cryptocurrencies, is not a legal tender issued by the government. It is not fiat and therefore won’t give in to inflationary pressures like the one being experienced in the United States today. Inflation is an economic situation where the value of money drops. It is during this period when people seek […]
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Bitcoin edged lower Thursday after the jobless claims in the United States reached their lowest level of the pandemic, confirming that the country’s economy is recovering at a faster rate. The benchmark cryptocurrency fell to as low as $50,305 ahead of the New York opening bell, continuing its decline from the previous five sessions as […]
Bitcoin has been unable to break above or below its current rage, and price action remains undecided. During yesterday’s trading session, the cryptocurrency saw upside volatility, but gains were surrounded once more today as macroeconomic forces took over BTC. Related Reading: MEV Crypto Bot Gains $1M But Loses Same To Hack Same Day At the time of writing, Bitcoin (BTC) trades at $19,200 with sideways movement in the last 24 hours and 4% profits in the last 7 days. While large cryptocurrencies have been able to preserve some of their gains from the past week, most are following the general....
Wild volatility continues for Bitcoin and altcoins as the lowest CPI readout since January pummels the dollar. Bitcoin (BTC) surged $1,000 in five minutes before the Nov. 10 Wall Street open as United States inflation and jobs data boosted risk assets.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCPI comes in lowest since the start of 2022Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to daily highs of $17,782 on Bitstamp.The pair was just hours from a more-than-two-year low below $15,700 at the time, taking its 24-hour low-to-high to 12.8%.At the....
Low transaction activity is gathering importance as analysts forecast volatility returning. Bitcoin (BTC) disappointed bulls on upside prior to the May 26 Wall Street open as BTC/USD returned under $29,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewMarkets "eerily calm" post FOMCData from Cointelegraph Markets Pro and TradingView tracked an uninspiring day for Bitcoin, with $800 of losses coming in a single hourly candle several hours before the start of trading.The largest cryptocurrency had avoided volatility on the release of minutes from the United States Federal....
Rising jobless claims in the U.S. sparked sell-offs in the dollar market. On the other hand, Bitcoin held onto its intraday gains. Bitcoin (BTC) looks to reclaim $45,000 on Oct. 1 as the United States dollar retreated lower after hitting its one-year high. Bitcoin’s tight inverse correlation with the greenback over the past month suggests that a weakening dollar could push BTC’s price even higher in the coming sessions. Bitcoin-dollar correlation on hourly chart. Source: TradingViewDollar drops following labor market shockIn detail, the U.S. Dollar Index (DXY), which measures the dollar’s....