Bitcoin price eyes $50K as the US Dollar retreats after hitting its one-year high
Rising jobless claims in the U.S. sparked selloffs in the dollar market. On the other hand, Bitcoin held onto its intraday gains.
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Rising jobless claims in the U.S. sparked selloffs in the dollar market. On the other hand, Bitcoin held onto its intraday gains.
RGT, POLY and TLOS secure double-digit gains as investor sentiment rises after the Fed says it will not ban cryptocurrencies and Bitcoin briefly reclaims $44,000.
“The Market Report” with Cointelegraph is live right now with special guest Gareth Soloway, an experienced swing and day trader.
While the long-term sentiment remains bullish, traders warn that BTC must hold the $41,000 support to avoid a sweep of the $38,000 level.
One of the crypto mining stocks delivered more than 1,600% returns year-over-year (YoY) while Bitcoin's gains in the same period came out to be around 290%.
Bitcoin needs to flip $43,600 to support in order to see bullish continuation and on-chain data signals that BTC accumulation continues to increase.
Bitcoin needs to hold $42,000 or it risks sliding as low as $32,000, according to crypto trader Eric Krown.
The flagship cryptocurrency closed the previous week below its 21-week exponential moving average for the 19th time in history, triggering additional selloff risks.
An analyst from global banking giant Deutsche Bank expects Bitcoin will enjoy a “first-mover advantage" over other cryptocurrencies for the foreseeable future.
After several hesitant months, altcoins are now outpacing the flagship asset.