Bitcoin showed signs of weakness on August 26 as volatility in gold prices coupled with strength in the US dollar currency index to pressure sentiment. Data from price tickers including CoinMarketCap showed increasingly lower levels on the hourly chart for BTC/USD through Wednesday, with 24-hour losses sitting at 1.8% at press time.
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Bitcoin began the week by moving closer to $12,000, but a short price plunge looks possible (Photo: CoinMarketCap)Markets Report: Bitcoin Defends Key Support Levels Before Major Fed Meeting
Thursday may well see a decision on inflation from the US Fed, while bulls remain strong in BTC below $12,000.
Bitcoin started a new week’s trading by edging closer to $12,000 — but there’s plenty of pressure to sink prices lower. On Thursday, the U.S. Federal reserve will issue a statement that could push safe havens up considerably.
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Bitcoin's price dipped back below $12,000, with the $11,000 corridor expected to persist through August. (Photo: CoinMarketCap).Markets Report: Bitcoin Loses $12,000 as Analysts Warn of Fresh Dip Before Bulls Regain Control
$11,000 forms a predicted BTC price floor for the remainder of August as gold lingers just below $2,000 and the US dollar keeps flagging.
As confirmed by price trackers including CoinMarketCap, a correction took hold during trading later on August 18, culminating in a dive to $11,620. A subsequent bounce put BTC/USD closer to $11,900, with press-time levels circling $11,880.
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Both bitcoin and gold retreated Tuesday, as exuberance for safe havens retreated (Photo: CoinMarketCap)Markets Report: Bitcoin Price Centers on $11,700 as Gold Loses $2,000 Support
A return to ranging within a price corridor sets the tone this week after volatility cost Bitcoin its return to $12,000
Bitcoin continued its “ranging” behavior on August 11 as volatility gave way to a fresh corridor below $12,000. Data from price trackers including CoinMarketCap showed BTC/USD adopting a new focal point around $11,700 after several days of intense activity.