English
BTC Fear & Greed Index Slips Despite the NASDAQ Index Tumble
The day will be hectic for BTC since late in the session, US economic statistics will have an impact. Inflation figures that are hotter than anticipated may challenge sentiment.
Bitcoin (BTC) lost 0.04% on Thursday. On Wednesday, BTC lost 0.47% of its value and finished the day at $16,838. It is noteworthy that BTC missed $17,000 for the sixth time in six sessions.
BTC increased to a low of $16,873 in the morning after a mixed start to the day. BTC, however, failed to surpass the First Major Resistance Level (R1) at $16,936, dropping to a low of $16,588 in the late afternoon. Before a late recovery to conclude the day at $16,838 BTC dropped through the First Major Support Level (S1) at $16,752 and the Second Major Support Level (S2) at $16,659.
Test of Investor Resilience Using US Economic Indicators and the NASDAQ Index
The NASDAQ Index and BTC fell on Thursday as a result of negative US economic data and negative US company news. Better-than-anticipated US data fuelled concerns about a recession since they were consistent with a more aggressive Fed interest rate trajectory.
Initial unemployment claims increased to 216k in the week ending December 16. Economic experts predict a rise to 222k. Additionally, US GDP data for Q3 came in hotter than anticipated. The US economy grew by 3.2% in Q3, up from a preliminary 2.9%. The economy shrank by 0.6% in Q2.
By announcing layoffs in reaction to a decline in demand for computer chips, Micron Technology Inc (MU) contributed to the gloomy sentiment.
However, a BTC recovery helped the day finish flat thanks to a late NASDAQ recovery from session lows. The S&P 500 and the NASDAQ Index both had losses for the day of 1.45% and 2.18%, respectively.
Sam Bankman-Fried posting $250 million bail was the headline news, even if there were no crypto events to provide direction.
Bonus rebate to help investors grow in the trading world!
