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

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	16,303,882,299	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Cardano

ADAUSD

Crypto

16,303,882,299

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0016	0.35%	0.4638	0.4638	0.4639

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0016

0.35%

0.4638

0.4639

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.4696	0.4481	0.4635	0.4622	0.216009 - 0.810200

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.4696

0.4481

0.4635

0.4622

0.216009 - 0.810200

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:43:41	908.55	0.4638	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:43:41

908.55

0.4638

USD

Price x Volume	Volume	Base Symbol	Related Pairs
5,560,223.11	12,121,591.44	ADA	ADAEUR	ADAGBP	ADABTC

Price x Volume

Volume

Base Symbol

Related Pairs

5,560,223.11

12,121,591.44

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

04/11/2022 3:18pm

NEWSBTC

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. Related Reading: Shiba Inu Off To Weak Start This November As SHIB Faced Selling Pressure In Last 7 Days 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. 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. Related Reading: Cardano (ADA) Investors Watch For Nov. 18, Hoskinson Teases Announcement 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

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ADAUSD Cardano