Bitcoin Clings to $22K as US Dollar Strength Rises to December Levels — What’s Next?

Bitcoin (BTC) fell to three-week lows on March 8 as stronger-than-expected employment data from the United States dampened risk assets.

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $21,858 on Bitstamp.

The pair was attempting to preserve $22,000 as support at the time of writing, with traders’ downside targets still a way off at $21,300.

Bitcoin BTC

Original Link

Comments

All Comments

Recommended for you

cointelegraph ·

Bitcoin $59K price may swing ‘drastically’ amid election year parallels

If Bitcoin follows the same pattern as previous election years, August will be “nothing crazy,” but a breakout may occur within a month or two, according to a crypto analyst.
Cointime August 17th News Express

1.VanEck and 21Shares Solana ETF Form 19b-4 Suspected to be Removed from CBOE Website
Cointime August 11st News Express

1.Fed Governor Bowman: Be cautious about rate cuts
The total open interest of BTC options is $21.375 billion, and the open interest of ETH options is $6.122 billion.

Coinglass data shows that the nominal value of open BTC option positions on the entire network is 21.375 billion US dollars (compared to 23.136 billion US dollars the previous day), and the nominal value of open ETH option positions is 6.122 billion US dollars (compared to 6.741 billion US dollars the previous day).
Cointime August 4 News Express

1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
Cointime精选 ·

2,200 letters of support for ‘Bitcoin Strategic Reserve’ bill sent to US senators

Senator Cynthia Lummis introduced the bill on July 31, which would direct the US government to start a reserve Bitcoin fund.
Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.
cointelegraph ·

Bitcoin Beach co-founder claims Bitcoiners want to move families to El Salvador

The Bitcoin-friendly area of El Salvador has attracted many visitors using crypto, but are people considering moving themselves and their children abroad?
cointelegraph ·

Trump to end war on crypto if elected, says US will be 'crypto capital of the world'

The former and prospective United States president made the announcement at the Bitcoin 2024 conference in Nashville, Tennessee.
cointelegraph ·

Bitcoin wobbles as Trump delivers pro-crypto conference speech

The 45th president of the United States caused some minor ripples throughout the cryptocurrency market with his speech at Bitcoin 2024.