Bitcoin still has the potential to reach new all-time highs—and will avoid testing four figures if one price area holds. That was the opinion of one analyst on August 25 as BTC/USD continued its ranging price action between $11,000 and $12,000.
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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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Markets Report: Bitcoin Stays Calm as Stocks Hit Records but Dollar Weakens
Mixed performance leaves BTC/USD below $12,000 amid record S&P 500 highs but two-year dollar index lows
Bitcoin ends another working week’s trading with surprisingly little volatility, but macro factors may mean the market does not stay calm for long. Friday began with Bitcoin exhibiting the same price behavior as it had done throughout most of the week—an increasingly narrow trading corridor below $12,000, marked by support at $11,500.
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Markets Report: Bitcoin stays rangebound as hodlers remove more BTC from exchanges
Exchange balances are falling fast in a sign that even recent price highs have failed to tempt investors to take profits — a bullish sign
Bitcoin fulfilled analysts’ expectations on August 20 and continued trading in an eerily calm range near $12,000. Data from price trackers including CoinMarketCap showed a pronounced lack of volatility overnight on Wednesday, with trading focused on around $11,700.
