NFT News by Thebittimes.Com

Bitcoin rose to its highest level in six weeks on Wednesday, as the U.S. Dollar continued to weaken versus several G7 currencies. The latest decline in USD comes as consumer confidence in the United States fell by more than expected in October. Ethereum was also trading at a multi-week high in today’s session Bitcoin Bitcoin (BTC) was back above $20,000 during today’s session, as crypto bulls pushed prices to a multi-week high while the U.S. dollar lost strength. Following a low of $19,278.74 yesterday, BTC/USD raced to an intraday high of $20,702.72 on Wednesday. Today’s move sees the world’s largest cryptocurrency hit its strongest point since September 13, when prices were close to $23,000. BTC/USD – Daily Chart Looking at the chart, Wednesday’s surge comes as bullish pressure was finally able to intensify, moving beyond the resistance of $19,600 in the process. The 14-day relative strength index (RSI) also moved higher, breaking ou...

Bearish sentiment returned to cryptocurrency markets on Saturday, as bitcoin was once again in the red. The world&#x2019 ;s largest token moved lower to start the weekend, following yesterday’s surge towards $20,000. Ethereum was also down today, falling below $1,300 in the process. Bitcoin Bitcoin (BTC) was in the red to start the weekend, as bearish sentiment returned to cryptocurrency markets . BTC was higher on Friday, as market uncertainty eased, following the latest U.S. inflation report, however it seems as though this turbulence has returned this weekend. As a result, BTC/USD fell to an intraday low of $19,076.63 earlier in the day, less than a 24 hours after hitting a peak of $19,821.40. BTC/USD – Daily Chart Looking at the chart, the drop in price has pushed the 10-day (red) moving average (MA) close to an imminent downward crossover with its 25-day (blue) counterpart. In addition to this, the 14-day relative strength index (RSI) is now back below the 50....

Ten days into October, and ahead of this Wednesday’s U.S. inflation report, bitcoin prices fell to a one-week low. Prices of the world&#x2019 ;s leading crypto asset were mostly in the red during September, trading below $20,000 for the majority of the month. As of writing, bitcoin continues to hover at these lows, with many traders wondering whether we will see any significant surge this month. Current Market Status Last week U.S. non-farm payrolls showed that 263,000 jobs were added to the U.S. economy in September, better than the 250,000 markets had expected. This data was positive for an already strong U.S. dollar, which has been one of the main reasons behind the recent decline in prices. As USD gained against the majority of G-7 currencies, prices of commodities, and cryptocurrencies declined, as demand weakened. On Wednesday, traders will be glued to their screens awaiting the release of the U.S. inflation report, which could impact the Federal Reserve’s upc...