Bitcoin (BTC) braved less volatile but choppy trading on April 9 as the United States Federal Reserve flooded markets with trillions in dollars.
Prezentare zilnică a pieței criptomonede. Sursă: Coin360
Fed rolls out trillions in loans
Date de la Coin360 și Piețele Cointelegraph showed BTC/USD still keeping within a tight $400 corridor between $7,100 and $7,410 as the week continued.
A sudden dip to $7,110 formed the most volatile feature of the past 24 hours. At press time, Bitcoin traded at around $7,325.
Graficul prețurilor Bitcoin 1-day. Sursă: Coin360
The largest cryptocurrency appeared broadly unfazed by the announcement of a fresh stimulus package from the Fed worth $2.3 trillion.
Într-o comunicatul de presă, the central bank said that its aim was to “support the economy” as the U.S. coronavirus death toll reached 14,800.
Board Chair Jerome H. Powell said:
"Rolul Fed este să ofere cât mai multă ușurare și stabilitate în această perioadă de activitate economică restrânsă, iar acțiunile noastre de astăzi vor contribui la asigurarea unei eventuale recuperări cât mai viguroase."
The cash injection comes just weeks after a giant $6 trillion liquidity tsunami from the Fed, a sum so large that it equals the entire U.S. GDP from 1990. Earlier on Thursday, Cointelegraph raportate that U.S. national debt was at a historic high of $24 trillion.
Commentator: BTC is staging a “sucker rally”
While markets were also buoyed by the potential for a cut in oil production after Thursday’s OPEC+ meeting, among Bitcoin analysts, the mood was overwhelmingly bearish.
Despite rising around 8% in a week, Bitcoin, like traditional markets, was unlikely to sustain its trajectory, Cointelegraph Markets’ Micha «l van de Poppe avertizat.
“The price of $BTC is slowly grinding upwards, but volume is decreasing,” he wrote in a Twitter postare joi.
“The $6,900 shorters got stopped out & flipped long, while the $7,700-8,000 shorters are waiting. More and more people turning bullish, giving me indication that liquidity is beneath us. Let’s see.”
Popular commentator Looposhi was more damning, writing:
„Cred că este drăguț cum unii dintre voi sunt pe cale să-și ardă contul din cauza unor rahaturi de manuale. Să fiu foarte clar. ACEASTA ESTE UN RILIU SUCKERS #Bitcoin!”
Meanwhile, U.S. jobless claims totaled over 6 million for a second week, van de Poppe agreeing with the International Monetary Fund, or IMF, that coronavirus would create the worst recession since the Great Depression of the 1930s.