{"id":59811,"date":"2023-09-11T23:47:26","date_gmt":"2023-09-12T03:47:26","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-prices-fall-back-why-traders-are-bracing-for-fierce-moves-this-week\/"},"modified":"2023-09-11T23:47:29","modified_gmt":"2023-09-12T03:47:29","slug":"bitcoin-prices-fall-back-why-traders-are-bracing-for-fierce-moves-this-week","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=59811","title":{"rendered":"Bitcoin Prices Fall Back. Why Traders Are Bracing for Fierce Moves This Week."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000740715\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>\n        Bitcoin<br \/>\n       and other cryptocurrencies slipped Monday as malaise continued to hang over digital asset markets. Traders were looking ahead to economic data this week to shake cryptos out of their funk\u2014but it may not be a positive move.<\/p>\n<p>The price of Bitcoin has fallen less than 1% over the past 24 hours to $25,700, edging further from the $26,000 level around which the largest digital asset has traded for much of the past month and near the lowest levels since mid-June.<\/p>\n<div class=\"paywall\">\n<p>\u201cThe best thing you could say about Bitcoin right now is that its traditional September blues\u2014it\u2019s fallen for six consecutive Septembers\u2014has yet to materialize,\u201d said Antoni Trenchev, managing partner at crypto lender Nexo. \u201cDon\u2019t get too comfortable with this price passivity because the fact Bitcoin has been wedded to $25,800 for 10 days tells us that the breakout when it happens will likely be fierce.\u201d<\/p>\n<p>Indeed, crypto prices have been extremely passive, with this week\u2019s lack of action marking a continuation of a trend in place for months. Bitcoin saw its lowest volatility on record this summer and trading volumes\u2014a barometer of investor interest in cryptos\u2014hit four-year lows in August.<\/p>\n<p>Traders are looking to major macroeconomic news this week for potential catalysts, with Bitcoin having the potential to move with the stock market\u2019s<br \/>\n        Dow Jones Industrial Average<br \/>\n       and<br \/>\n        S&amp;P 500<br \/>\n       on the back of key inflation data due Wednesday. The outlook for interest rates\u2014already at a generational peak after the Federal Reserve began ramping up borrowing costs last year to tame inflation\u2014remains key for risk-sensitive assets, which tend to suffer from a lack of demand when rates are high.<\/p>\n<p>\u201cU.S. inflation data this week will tell us if another U.S. interest rate hike is likely this year and help us gauge how long interest rates need to stay at restrictive levels. Clarity on these two key points is likely to dictate whether or not Bitcoin can stay above the mid-$20,000s,\u201d Trenchev said.<\/p>\n<p>Beyond Bitcoin,<br \/>\n        Ether<br \/>\n      \u2014the second-largest crypto\u2014lost 2% to below $1,600. Smaller cryptos or altcoins were weaker, with<br \/>\n        Cardano<br \/>\n       down 2% and<br \/>\n        Polygon<br \/>\n       slipping 4%. Memcoins were unspared, with<br \/>\n        Dogecoin<br \/>\n       dropping 2% and<br \/>\n        Shiba Inu<br \/>\n      shedding 3%.<\/p>\n<p>Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/bitcoin-ethereum-price-crypto-markets-today-bec3f149?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and other cryptocurrencies slipped Monday as malaise continued to hang over digital asset markets. Traders were looking ahead to economic data this week to shake cryptos out of their funk\u2014but it may not be a positive move. The price of Bitcoin has fallen less than 1% over the past 24 hours to $25,700, edging [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":59460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-59811","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Prices Fall Back. Why Traders Are Bracing for Fierce Moves This Week. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin and other cryptocurrencies slipped Monday as malaise continued to hang over digital asset markets. 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