Bitcoin Retreats From $35K; Miner Selling Pressure May Cap Prices, Crypto Hedge Fund Says
BTC could run towards $40,000-$45,000 after consolidating around current prices, Capriole Investments said.
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BTC could run towards $40,000-$45,000 after consolidating around current prices, Capriole Investments said.
Bitcoin (BTC)surged past $31,000 Monday for the first time since mid-July as cryptocurrency markets continued their October bull run.
The New York Attorney General filed early Thursday a lawsuit against Genesis, Gemini and DCG for allegedly defrauding investors of $1 billion.
Blockchain analytics firm CryptoQuant’s models predict that $155 billion will flow into the bitcoin market cap should the ETFs be approved.
After failing again at $28,000 resistance over the weekend, bitcoin has retreated to its weakest level since late September.
Bitcoin is on track for gains on Friday despite bearish U.S. jobs numbers which initially sent the crypto down nearly 2%.
Investment research firm ByteTree upgraded bitcoin’s price outlook to “bull” from “neutral” as the crypto benefits as a “safe haven” amid an equity and bond sell-off.
Bitcoin edged higher to $27,700 Wednesday afternoon as crypto markets calmed after Monday’s sharp rally. XRP and AVAX jumped 3% and 7%, respectively.
BTC slid to $26,500 as interest rates and the U.S. dollar surged while equities declined.
The pause in rate hikes had been overwhelmingly expected by market participants, who will now begin focusing on the U.S. central bank’s next policy meeting in November.