The biggest cryptocurrency extends downward correction today, with prices falling for a moment even $58.000 support zone. US dollar gains and USDIDX hits today the highest levels since November 2023 ahead of today FOMC decision (7 PM GMT) and Fed chair Powell speech (7:30 PM GMT). Bitcoin felt today to level unseen since the end of February 2024. What's important is that demand from US ETFs is still very weak (net outflows), and Hong Kong ETFs debut were disappointing. BTC price declined also below major on-chain support level at $59,500 where average short term holders 'realized price' is located. During previous Bitcoin bull runs, this on-chain zone were often very important support. At the same time,
Source: xStation5
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile appBitcoin vs USDIDX
USDIDX is traded on the highest level since November 2023 and is rising constantly ahead of today FOMC. The history shows strengthening US dollar and 10-yr yields are pressuring more risky assets such as stocks and crypto.
Source: xStation5
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.