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BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
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Bitcoin update
BTC has been decreasing since reaching a high of $42,599 on Aug 1.
Bitcoin (BTC) reached a high of $42,599 on Aug 1 but fell below the $40,550 range high shortly after.
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It regained its footing by creating a bullish engulfing candlestick on Aug 4 and is now making another attempt at reclaiming the level.
Long-dated Bitcoin options and bulls still make waves with their ultra bullish bets, but even they must admit that the possibility of (BTC) trading above $60,000 in the next couple of months is dim.
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Optimism from bulls is the leading sentiment of the day after Bitcoin (BTC) price made its way back toward the psychologically important $40,000 level.
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Bitcoin (BTC) price has recovered from its recent $37,500 low and the digital asset’s run back toward the $40,000 mark spurred bullish activity from many altcoins.
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A recent run-down in the dollar index (DXY) stopped midway as investors awaited United States’ jobs data for a guide on the viewpoint for interest rates. Meanwhile, Bitcoin (BTC) moved inversely to the greenback.
DXY rose to its intraday high of 92.195 on Aug. 4, up 0.45% from its July 30 low of 91.
BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
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Bitcoin (BTC) has been moving downwards since reaching a local high of $42,599 on Aug 2 and has broken down from an ascending support line.
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However, it has reached support and technical indicators suggest a short-term rebound in price.
A combination of multiple indicators tracking Bitcoin (BTC) blockchain would continue the benchmark cryptocurrency’s price rally further into 2021, popular on-chain analyst Willy Woo anticipates.
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BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Sponsored
Sponsored
Bitcoin update
On Aug 1, BTC reached a high of $41,599.