2024-09-06 21:18:31
The recession fell this Friday, the 6th, extending the fall to a fourth session in a row, following the volatile reaction of the broad market to the report on the US jobs market (payrolls), which fueled uncertainty about the dose of the interest rate cut by the Federal Reserve (Fed, the central bank of North America) on the 18th of this month.
Bitcoin fell 5.11% in the last 24 hours to 3:34 pm, at US$53,740.00, according to Binance. At its lowest level in 24 hours, the cryptocurrency touched US$53,568.00. , subsequently, fell 6.70%, to US$ 2,231.32 in the same interval.
“The Fed’s decision remains the main variable to watch for traditional and crypto assets as investor sentiment remains weak and there is little other catalyst for either market,” said Coinbase (NASDAQ:) Americas regional director of securities, Fabio Plein.
In the executive’s assessment, investors should be more likely to allocate capital in October and November, that is, after the Fed meeting in September and, also, as we approach the final piece of the US election season, because this is a theme that causes. uncertainty and many investors may be leaving.
While waiting for the events, investors opted for a strong position adjustment. Liquidation of bullish long positions rose to $55 million, while unwinding of long positions in bitcoin reached $90 million, marking the highest levels since August 5, according to Cryptoquant, a provider of on-chain analysis and market data for institutions and d ‘professional cryptocurrency investors.
In addition, the state of stop outwhich causes the automatic forced closure of a trader’s position if the equity in that person’s trading account falls below a certain threshold. As a result, open contracts fell by US$2.2 billion, according to Cryptoquant.
*With information from Dow Jones Newswires
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