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Yesterday’s release of CPI figures suggests that inflation is slowing down and a rate cut could be on the horizon. This weakened the dollar and boosted the value of assets priced in dollars, including BTC/USD. As a result, the price of Bitcoin hit a May high. Meanwhile, there is sustained demand in the market driven […]

The post Bitcoin Price Hits a Month’s High, Breaking Key Resistance appeared first on Action Forex.

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11/12/2023

USD/JPY: Extends Advance on Fresh Dovish Comments from BoJ

Bounce from last Thursday’s multi-month low and a bear-trap, extends into second consecutive day and accelerates on Monday. The dollar benefited from stronger than expected US jobs data in November, which shifted the view about rate cuts in 2024, while BoJ softened the narrative about start of tightening its ultra-loose policy, by comments that there […]
07/02/2024

Bitcoin is Looking at Stocks, and That’s Worrisome

Market picture The crypto market remains stable while waiting for further signals. The crypto cap is up 0.4% in 24 hours to $1.64 trillion. Bitcoin is trading at $42.7K – virtually unchanged in 24 hours, just 1.4% lower than a week ago and a 1.8% decrease over 30 days. Don’t think that the first cryptocurrency […]
22/08/2024

US Dollar Index (DXY) Tumbles as BLS Revises Job Growth Downward, Rate Cuts Loom

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