Bitcoin Lacking Bullish Momentum
From tickmill.com
It’s been a tricky week for Bitcoin bulls. Following a heavy sell off on Monday, price had staged a recovery through the middle of the week before turning lower again today. Resilience in the US has been partially attributed to the failed recovery with the Dollar grinding higher through the week, supported by comments from Fed chair Powell earlier in the week. Speaking in the wake of the September FOMC, Powell reiterated concerns over upside inflation risks and the fine balance between them and downside labour market risks. The market is still pricing in a further .25% cut in October with around a 70% chance of an ...
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