US dollar goes 'no-bid' — 5 Things to know in Bitcoin this week
Bitcoin is experiencing upward momentum, nearing $88,000 amid macroeconomic instability, particularly concerning the US trade war with China. Despite recent gains, market participants remain skeptical of Bitcoin's price strength, especially given low trading volumes during non-traditional hours. Attention turns to the Federal Reserve, which is facing criticism from President Trump regarding interest rate policies while the trade war continues to create economic uncertainty. Meanwhile, gold has reached new all-time highs, reinforcing a narrative of alignment between gold and Bitcoin as safe-haven assets. The US dollar is hitting three-year lows, prompting bullish predictions for Bitcoin and other commodities. New Bitcoin investors are already seeing profits, but historical data indicates that sustained upward movement will require a reclaim of the $91,000 level. Several traders are watching for confirmation of longer-term bullish trends and assessing the impact of current macroeconomic conditions.
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