• bitcoinBitcoin (BTC) $ 59,463.00
  • ethereumEthereum (ETH) $ 3,177.22
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 534.98
  • solanaSolana (SOL) $ 144.06
  • usd-coinUSDC (USDC) $ 1.00
  • staked-etherLido Staked Ether (STETH) $ 3,176.80
  • xrpXRP (XRP) $ 0.519499
  • the-open-networkToncoin (TON) $ 7.28
  • dogecoinDogecoin (DOGE) $ 0.112845
  • cardanoCardano (ADA) $ 0.430276
  • tronTRON (TRX) $ 0.139845
  • avalanche-2Avalanche (AVAX) $ 26.01
  • shiba-inuShiba Inu (SHIB) $ 0.000017
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 59,396.00
  • polkadotPolkadot (DOT) $ 6.19
  • chainlinkChainlink (LINK) $ 12.96
  • bitcoin-cashBitcoin Cash (BCH) $ 376.92
  • uniswapUniswap (UNI) $ 8.16
  • nearNEAR Protocol (NEAR) $ 5.34
  • leo-tokenLEO Token (LEO) $ 5.80
  • daiDai (DAI) $ 0.999692
  • litecoinLitecoin (LTC) $ 70.01
  • matic-networkPolygon (MATIC) $ 0.528209
  • wrapped-eethWrapped eETH (WEETH) $ 3,309.62
  • kaspaKaspa (KAS) $ 0.169661
  • internet-computerInternet Computer (ICP) $ 8.80
  • pepePepe (PEPE) $ 0.000009
  • ethena-usdeEthena USDe (USDE) $ 0.999328
  • ethereum-classicEthereum Classic (ETC) $ 22.32
  • aptosAptos (APT) $ 6.43
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.18
  • stellarStellar (XLM) $ 0.100377
  • moneroMonero (XMR) $ 156.55
  • hedera-hashgraphHedera (HBAR) $ 0.071359
  • makerMaker (MKR) $ 2,728.22
  • blockstackStacks (STX) $ 1.67
  • crypto-com-chainCronos (CRO) $ 0.091861
  • filecoinFilecoin (FIL) $ 4.27
  • cosmosCosmos Hub (ATOM) $ 6.18
  • render-tokenRender (RNDR) $ 6.13
  • mantleMantle (MNT) $ 0.723986
  • okbOKB (OKB) $ 39.37
  • vechainVeChain (VET) $ 0.029107
  • arbitrumArbitrum (ARB) $ 0.697522
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,218.76
  • immutable-xImmutable (IMX) $ 1.34
  • injective-protocolInjective (INJ) $ 20.48
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999721
  • suiSui (SUI) $ 0.768489
  • optimismOptimism (OP) $ 1.71
  • bittensorBittensor (TAO) $ 261.54
  • the-graphThe Graph (GRT) $ 0.192304
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,555.55
  • bonkBonk (BONK) $ 0.000024
  • dogwifcoindogwifhat (WIF) $ 1.65
  • arweaveArweave (AR) $ 24.77
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,300.42
  • notcoinNotcoin (NOT) $ 0.015324
  • aaveAave (AAVE) $ 100.87
  • lido-daoLido DAO (LDO) $ 1.67
  • bitget-tokenBitget Token (BGB) $ 1.04
  • ondo-financeOndo (ONDO) $ 0.999282
  • theta-tokenTheta Network (THETA) $ 1.42
  • flokiFLOKI (FLOKI) $ 0.000146
  • whitebitWhiteBIT Coin (WBT) $ 9.54
  • fantomFantom (FTM) $ 0.487288
  • thorchainTHORChain (RUNE) $ 3.71
  • celestiaCelestia (TIA) $ 6.20
  • algorandAlgorand (ALGO) $ 0.145037
  • jasmycoinJasmyCoin (JASMY) $ 0.024307
  • based-brettBrett (BRETT) $ 0.117054
  • pyth-networkPyth Network (PYTH) $ 0.305967
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,168.53
  • jupiter-exchange-solanaJupiter (JUP) $ 0.785671
  • quant-networkQuant (QNT) $ 71.62
  • sei-networkSei (SEI) $ 0.325867
  • coredaoorgCore (CORE) $ 1.10
  • elrond-erd-2MultiversX (EGLD) $ 35.63
  • gatechain-tokenGate (GT) $ 7.18
  • flare-networksFlare (FLR) $ 0.019908
  • mantra-daoMANTRA (OM) $ 1.08
  • kucoin-sharesKuCoin (KCS) $ 9.18
  • flowFlow (FLOW) $ 0.575453
  • akash-networkAkash Network (AKT) $ 3.43
  • axie-infinityAxie Infinity (AXS) $ 5.58
  • eosEOS (EOS) $ 0.548355
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,230.48
  • ethereum-name-serviceEthereum Name Service (ENS) $ 25.51
  • dydx-chaindYdX (DYDX) $ 1.33
  • bitcoin-svBitcoin SV (BSV) $ 40.48
  • tokenize-xchangeTokenize Xchange (TKX) $ 9.98
  • galaGALA (GALA) $ 0.021726
  • bittorrentBitTorrent (BTT) $ 0.00000082
  • beam-2Beam (BEAM) $ 0.015531
  • tezosTezos (XTZ) $ 0.785657
  • msolMarinade Staked SOL (MSOL) $ 173.32
  • neoNEO (NEO) $ 10.77
  • fasttokenFasttoken (FTN) $ 2.35
  • usddUSDD (USDD) $ 1.00
  • starknetStarknet (STRK) $ 0.563497
  • the-sandboxThe Sandbox (SAND) $ 0.315462
  • zebec-protocolZebec Protocol (ZBC) $ 0.014087
  • roninRonin (RON) $ 2.12
  • ordinalsORDI (ORDI) $ 33.23
  • gnosisGnosis (GNO) $ 264.79
  • ethenaEthena (ENA) $ 0.399702
  • lido-staked-solLido Staked SOL (STSOL) $ 169.42
  • fraxFrax (FRAX) $ 0.997477
  • nexoNEXO (NEXO) $ 1.15
  • mog-coinMog Coin (MOG) $ 0.000002
  • frax-etherFrax Ether (FRXETH) $ 3,171.42
  • decentralandDecentraland (MANA) $ 0.331878
  • conflux-tokenConflux (CFX) $ 0.146131
  • ecasheCash (XEC) $ 0.000031
  • chilizChiliz (CHZ) $ 0.068368
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,421.59
  • pendlePendle (PENDLE) $ 3.83
  • tether-goldTether Gold (XAUT) $ 2,411.27
  • safeSafe (SAFE) $ 1.39
  • zksyncZKsync (ZK) $ 0.159110
  • mina-protocolMina Protocol (MINA) $ 0.507422
  • dexeDeXe (DEXE) $ 10.05
  • havvenSynthetix Network (SNX) $ 1.70
  • klay-tokenKlaytn (KLAY) $ 0.148929
  • oasis-networkOasis Network (ROSE) $ 0.081738
  • popcatPopcat (POPCAT) $ 0.555885
  • astarAstar (ASTR) $ 0.077653
  • heliumHelium (HNT) $ 3.20
  • iotaIOTA (IOTA) $ 0.160025
  • book-of-memeBOOK OF MEME (BOME) $ 0.007715
  • swethSwell Ethereum (SWETH) $ 3,368.33
  • 1inch1inch (1INCH) $ 0.412282
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.90
  • wormholeWormhole (W) $ 0.283266
  • wemix-tokenWEMIX (WEMIX) $ 1.25
  • axelarAxelar (AXL) $ 0.699019
  • worldcoin-wldWorldcoin (WLD) $ 1.83
  • apecoinApeCoin (APE) $ 0.739925
  • raydiumRaydium (RAY) $ 1.89
  • true-usdTrueUSD (TUSD) $ 0.999359
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,463.93
  • nervos-networkNervos Network (CKB) $ 0.010885
  • aioz-networkAIOZ Network (AIOZ) $ 0.430461
  • xdce-crowd-saleXDC Network (XDC) $ 0.031128
  • livepeerLivepeer (LPT) $ 13.86
  • theta-fuelTheta Fuel (TFUEL) $ 0.069441
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.004563
  • apenftAPENFT (NFT) $ 0.00000045
  • pax-goldPAX Gold (PAXG) $ 2,397.44
  • bitcoin-goldBitcoin Gold (BTG) $ 24.89
  • illuviumIlluvium (ILV) $ 64.85
  • kavaKava (KAVA) $ 0.398171
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.02
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000020
  • stader-ethxStader ETHx (ETHX) $ 3,284.25
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000075
  • zcashZcash (ZEC) $ 26.81
  • usdbUSDB (USDB) $ 0.994160
  • layerzeroLayerZero (ZRO) $ 3.65
  • aevo-exchangeAevo (AEVO) $ 0.471202
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • aerodrome-financeAerodrome Finance (AERO) $ 0.713473
  • magaMAGA (TRUMP) $ 8.02
  • mx-tokenMX (MX) $ 3.79
  • echelon-primeEchelon Prime (PRIME) $ 8.62
  • woo-networkWOO (WOO) $ 0.191960
  • iotexIoTeX (IOTX) $ 0.038368
  • safepalSafePal (SFP) $ 0.766431
  • singularitynetSingularityNET (AGIX) $ 0.509432
  • h2o-daoH2O Dao (H2O) $ 0.422262
  • corgiaiCorgiAI (CORGIAI) $ 0.001011
  • curve-dao-tokenCurve DAO (CRV) $ 0.288019
  • compound-ethercETH (CETH) $ 63.84
  • stepnGMT (GMT) $ 0.147848
  • rocket-poolRocket Pool (RPL) $ 16.28
  • kusamaKusama (KSM) $ 21.79
  • beldexBeldex (BDX) $ 0.048957
  • compound-governance-tokenCompound (COMP) $ 47.47
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.064943
  • osmosisOsmosis (OSMO) $ 0.483275
  • memecoin-2Memecoin (MEME) $ 0.014723
  • arkhamArkham (ARKM) $ 1.38
  • aragonAragon (ANT) $ 8.03
  • golemGolem (GLM) $ 0.316651
  • dashDash (DASH) $ 26.07
  • holotokenHolo (HOT) $ 0.001737
  • zilliqaZilliqa (ZIL) $ 0.016381
  • dydxdYdX (ETHDYDX) $ 1.33
  • compound-wrapped-btccWBTC (CWBTC) $ 1,194.42
  • justJUST (JST) $ 0.029876
  • blurBlur (BLUR) $ 0.170530
  • blastBlast (BLAST) $ 0.016500
  • radixRadix (XRD) $ 0.027952
  • celoCelo (CELO) $ 0.537509
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.003277
  • manta-networkManta Network (MANTA) $ 0.851825
  • project-galaxyGalxe (GAL) $ 2.40
  • ankrAnkr Network (ANKR) $ 0.028270
  • enjincoinEnjin Coin (ENJ) $ 0.169699

Bitcoin traders hope $27K holds as BTC price ignores volatile US dollar

0 139

Bitcoin (BTC) stayed glued to $27,500 at the Oct. 4 Wall Street open as attention continued to focus on rampant United States yields.

Bitcoin traders hope $27K holds as BTC price ignores volatile US dollar

BTC/USD 1-hour chart. Source: TradingView

Analysis: $27,000 now «key» for BTC price

Data from Cointelegraph Markets Pro and TradingView showed a calm day for BTC price action while U.S. dollar volatility ruled.

After its own spate of hectic trading to start the week, Bitcoin was once more seeking direction, with market observers marking out key price points.

Popular trader Skew flagged market takers selling toward $27,600, lending “importance to this price level reclaim.”

“Get that reclaim & decent pop will come,” he predicted in part of the day’s X analysis.

$BTC
takers selling into $27.6K

adds importance to this price level reclaim

Get that reclaim & decent pop will come

note coinbase CVD (actual buyer led price into $27.6K) pic.twitter.com/Jr6MDb7ru1

— Skew Δ (@52kskew) October 4, 2023

Fellow trader Crypto Tony additionally highlighted $27,000 as the line in the sand to the downside.

$BTC / $USD — Update

Holding that $27,000 low, so i remain long for the time being and would be shorting if we lose this low here, or pump up and reject hard as suggested on chart below pic.twitter.com/bSDjWWaJEU

— Crypto Tony (@CryptoTony__) October 4, 2023

Updating his own trading strategy, meanwhile, trader Mark Cullen likewise placed emphasis on $27,000 holding as support.

“Bitcoin getting a reaction from its first attempt into my zone & a tap of the break out trendline,” accompanying commentary stated.

“Market conditions in Tradfi aren’t great so pressure’s down. Lets see if BTC can hold this area for a while longer, until other markets stabilize. Holding 27k is key for $BTC!”

Bitcoin traders hope $27K holds as BTC price ignores volatile US dollar

BTC/USD annotated chart. Source: Mark Cullen/X

Bitcoin bides its time as dollar sees sharp retrace

As Cullen and others explained, the mood on legacy markets was decidedly less stable than Bitcoin on the day.

This came thanks to U.S. 30-year bond yields surging to 16-year highs — something which got commentators wary of a potential meltdown to come.

Skew suggested that this angst over how macro forces would play out was responsible for the lack of significant BTC trading volume.

“Not much besides dipping toes in the water kind of bid other than that it’s perps mostly buying,” another X post stated earlier.

“Market is likely trying to digest everything that is going on terms of risk parameters and exposure. Many are capitulating to cash imo under market distress.”

U.S. dollar strength delivered upheaval of its own prior to the Wall Street open, with the U.S. dollar index (DXY) swiftly dropping from levels not seen since Q4 last year.

As customary in recent times, BTC/USD continued to shake off snap DXY moves.

Bitcoin traders hope $27K holds as BTC price ignores volatile US dollar

U.S. dollar index (DXY) 1-hour chart. Source: TradingView

Commenting on the situation, Sven Henrich, founder of NorthmanTrader, showed that long term, DXY chart performance was behaving as expected.

“Amid all the chaos & volatility one amazingly consistent clean chart: The US dollar respecting the channel trend lines,” he told X subscribers.

“Negative divergence on recent highs at top of the channel. What happens with this will likely be one of the key market drivers for the rest of the year.”

Bitcoin traders hope $27K holds as BTC price ignores volatile US dollar

U.S. dollar index (DXY) chart. Source: Sven Henrich/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Source

Leave A Reply

Your email address will not be published.