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Bitcoin Heavily Sold on Monday
Bitcoin bulls are on high alert this week as the futures market continue to reverse lower from last week’s highs. BTC is down almost 3% over early European trading on Monday and now down around 5% from last week’s highs. The move comes against the backdrop of a firmer US Dollar in the wake of the September FOMC. Despite the Fed cutting rates and signalling more to come, the upward revision to the bank’s GDP forecast and continued concern over inflation means that we haven’t seen the USD sell off many were expecting. For now, there is room for BTC to drift lower while USD remains bid. Looking ahead this week, ... (full story)
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