The price of Bitcoin seems to be on the edge of pressing the coveted $ 100K level before the weekend meeting between US representatives and China.
BTC eyes $ 100k
At the time of this writing, the price of BTC traded above $ 99,000, which is currently sitting in an area with great resistance, as seen in the chart below.
Cryptocurrency reaches about 3% in the day and around 5% in the week.
The derivatives market also cools down. Liquids have been reduced by more than 7% in the past 24 hours, currently standing shy of just $ 300 billion, predominantly occupied by short positions, data from coinglass Shut up.
The dominance in the Bitcoin market stands 62% according to coingecko, while the general market is in a state of “greed.” It signed a clear emotion transfer in the past week.
Macro is shaping the price of bitcoin
It is safe to say that the latest moves in BTC are driven by most macroeconomic events.
Number Cryptopotato Reported yesterday, representatives of the United States and China are expected to meet this weekend. They will discuss a potential trade deal following increased tension following recent threats of tariffs.
In addition, the US Federal Reserve decided to maintain major interest rates at the same level as 4.25% to 4.5% yesterday. Although Bitcoin initially refused the news, losses were removed as markets were repaired. Investors appear to be positive in news as S&P 500 Na -Post The first positive day to three.
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