Bitcoin Price Dips 4% as Market Anxiety Grows Ahead of US Jobs Report
Further signs of market caution are evident in the decline in open interest for Bitcoin futures on the CME Group platform, which has dropped to its lowest level since May.
Further signs of market caution are evident in the decline in open interest for Bitcoin futures on the CME Group platform, which has dropped to its lowest level since May.
A more aggressive Fed rate cut could signal a more assertive monetary policy stance, potentially leading to a pronounced market response.
Bitcoin price is not yet out of the woods as investors speculate on midterm economic uncertainties in the United States.
The crypto industry is expected to register heightened volatility in the coming weeks amid high-impact news, especially in the United States.
Amid the global market uncertainty, Bitcoin has given subpar returns during the last quarter and so, while Gold has seen a steady ascent.
SBI admits that this collaboration presents an opportunity for it to forge ahead with its corporate Bitcoin savings strategy.
Blockstream CEO Adam Back also acknowledged the surge in whale activity. He pointed out that it happened when Bitcoin price dipped from over $62,000 to around $58,000.
The US spot Bitcoin ETF issuers have registered four consecutive days of notable cash outflow leading to a bearish outlook for the entire altcoin industry.
The decreasing supply of Bitcoin on exchanges comes as analysts forecast a potential rally in the fourth quarter of 2024.
The expiring options could lead to increased market activity and heightened volatility due to the large volume of contracts.