Bitcoin keeps the sideways movement in the range of 9%

Bitcoin keeps the sideways movement in the range of 9%

Bitcoin ended last week in a slight minus (-0.96%), closing at $48,867. Friday became the key day for the world stock exchanges. On the last day of the week before the speech of the head of the US Federal Reserve Jerome Powell, there was high volatility in the foreign exchange market and a lack of appetite for risk

On Friday, before the speech of the head of the Fed, the DXY index first jumped sharply to 93.18 points, and after that it fell to 92.63 points. Major currencies with the US dollar showed good growth. Bitcoin rose by 4.75% to $49069 amid increased demand for risky assets. Buyers blocked the fall for Thursday.

On Saturday, the BTC/USD pair was trading in a limited range

On Sunday, buyers tested the $49632 level from which a downward correction began. The price returned to the level of $47762. Buyers have won back losses, but not all of them. To continue the growth, they needed to gain a foothold above $49,200, and the week closed significantly lower.

On Monday, August 30, the value of bitcoin continues to decline, and in the middle of the day it is at the level of $ 47900. All yesterday’s efforts were in vain. it is necessary to break through the $49,600 level, otherwise the “bearish” moods are increasing every day and many may lose their nerves.

The topic of coronavirus remains in the focus of investors’ attention (the rapid spread of the delta strain around the world, new lockdowns) and the report on the US labor market (September 3), which is very important for the US Federal Reserve, since according to labor market and inflation data, the regulator decides when to raise rates.