Bitcoin Price Retakes $21,000 And May Keep Rising Due To These Factors

2022-11-5 18:18

The Bitcoin price is regaining bullish momentum over today’s trading session, retracing the losses seen early in the week. Once again, the cryptocurrency is under the influence of macroeconomic forces working in its favor for the first time in months.

At the time of writing, the Bitcoin price trades at $21,000 with a 4% profit in the last 24 hours and seven days, respectively. Other cryptocurrencies in the crypto top 10 are displaying similar strength, with Binance Coin (BNB) and Dogecoin (DOGE) leading the altcoin rally.

BTC’s price trends to the upside on the daily chart. Source: BTCUSDT Tradingview Bitcoin Price Barrels Through Resistance Levels

Data from Material Indicators show a spike in buying pressure from investors with orders of about $100,000. These Bitcoin whales are positively reacting to today’s U.S. economic data, which signals a slowdown in this country’s job market. An analyst at Material Indicator said:

Unemployment came in at 3.7% which is 0.2% higher than forecasted and BTC whales see it as a sign that FED rate hikes may be working. Note, that one month’s report doesn’t make a trend, but right or wrong, this market reacts to every data point.

As reported by NewsBTC, the U.S. Federal Reserve (Fed) is trying to mitigate inflation in the dollar. The financial institution is implementing a monetary tightening program by hiking interest rates and reducing its balance sheet.

For the first time in months, the Fed plans seem to be working, or at least, the data hints at this possibility. Ironically, adverse reports favor the Bitcoin price and risk-on assets in the current economic scenario. Another analyst said the following about the recent price action:

Unemployment is rising which is what the FED wants. Markets reacting positively to bad news which is good news. It’s sad that we are at the point where they want people to lose their jobs to fix inflation.

In addition to economic data, the U.S. dollar is trending to the downside and could re-test previous support after months in an upside trend. This downside price action is contributing to the Bitcoin price upside momentum.

The hourly $DXY chart shows a confirmed fakeout earlier in the session.

Still clinging to 111.80 for now, though. pic.twitter.com/ZSYvJocjHi

— Justin Bennett (@JustinBennettFX) November 4, 2022 

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 65711.06 (+0.13%)
Объем 24H $41.923b
Изменеия 24h: -1.45 %, 7d: -2.83 %
Cегодня L: $65222.38 - H: $68096.1
Капитализация $1313.933b Rank 1
Цена в час новости $ 21364.69 (207.57%)

bitcoin price under cryptocurrency week early influence

Источник: newsbtc.com

bitcoin price → Результатов: 126


Фото:

Bitcoin reveals a rare bullish cycle bottom signal before bouncing as futures bears tighten their grip

Bitcoin is flashing its most oversold signal on record amid its continued price struggles in this current macroeconomic environment and persistent exchange-traded fund (ETF) outflows. According to CryptoSlate data, BTC's price dipped to around $62,700 over the last 24 hours, while its weekly relative strength index (RSI) printed roughly 25.

2026-2-26 21:10


Bitcoin Active Addresses Fall To 2020 Lows Following $83,000 Failure — What To Expect

The Bitcoin market has seen a horrific tale over the week, with the price recording a downturn of more than 12%. As the flagship cryptocurrency tests its $77,000 price support, data from recent on-chain analysis has been put out, which suggests that investors might have more concerns in the near-term. Related Reading: Bitcoin MVRV Z-Score […]

2026-2-1 12:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Why The Bitcoin Price May Have Hit Rock Bottom Already At $63,000

Following the Bitcoin price crash toward $60,000 in early February, the question on the lips of every investor is when the bleed will end. To this end, a number of analysts have shared their expectations and predictions for where the Bitcoin bottom might be.

Analyst Predicts Bitcoin Price Surge To $500,000 As Ribbon Fractal Emerges

A prominent market commentator has projected that the Bitcoin price could climb as high as $500,000, citing the reappearance of a long-observed moving average ribbon pattern on the monthly chart. The forecast, shared by Egrag Crypto on X, ties price structure to specific time windows in 2026 and 2028, arguing that technical alignment is outweighing short-term market narratives.

Bitcoin Final Sell-Off Coming? Analyst Says It’s Time To ‘Buckle Up’

A potential final sell-off in Bitcoin is back in focus after market analyst Aaron Dishner warned that the asset appears structurally close to capitulation. Based on cycle timing, historical drawdowns, and converging technical signals, he argues the market may be nearing its last downside move before a longer-term bottom forms.

Bitdeer Says Bitcoin Liquidation “Not A Concern” For Broader Market

Bitcoin miner Bitdeer has defended its decision to liquidate its Bitcoin holdings, saying it shouldn’t be a concern for the broader market. Bitdeer’s Bitcoin Holdings Have Hit Zero On Saturday, Bitdeer shared its weekly Bitcoin update in an X post, revealing that the company sold all of its mining output for the week. In total, […]

Bitcoin Market Resets With 28% Deleveraging — What Next?

At the beginning of February, the price of Bitcoin tumbled to a new low not seen since US President Donald Trump got elected in November 2024. This downside volatility is believed to have been precipitated by the overleveraging in the BTC market at the time.