News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • $USDCAD, $AUDUSD Near-term Technical Setups - https://t.co/HOOdZz6IIF https://t.co/DRiqmlKXHg
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.11% Gold: -0.91% Silver: -3.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/u41nMRKgOj
  • A pretty clean break from $SPX and other risk-sensitive assets are following along. As Hans Landa said in Inglorious Basterds: "Ooooooo. That's a Bingo" https://t.co/fLqS3kL8li
  • US Dollar Index reaches a multi-month high as markets strike a risk-off tone $USD $DXY https://t.co/m8AdjHztFX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 70.14%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GgwsfrU5lz
  • EUR/USD sheds 40-pips in a matter of minutes as the US Dollar strengthens broadly. Get your $EURUSD market update from @RichDvorakFX here:https://t.co/wIlo9Tbp7A https://t.co/It5iIFhMmL
  • Well, I don't think Powell will temper interest/concern around central banks having to pullback in the foreseeable future. Both 'taper tantrum' and 'operation twist' search interest charging higher: https://t.co/NK17S328F3
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.86% FTSE 100: -1.20% France 40: -1.27% Wall Street: -2.32% US 500: -2.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/KjNr7ongtX
  • Nasdaq now down over 3% today, confirming 10% correction territory. $QQQ
  • $USDCHF has continued to strength today, now above the 0.9280 level, trading around the highs hit in late September. The pair has performed strongly since mid February as US rates have continued higher, rising from 0.8900 by nearly 400 pips to its current levels. $USD $CHF https://t.co/qrHY8Sy2sf
Bitcoin (BTC) Latest: BTC/USD at Record High, Takes Aim at 30,000

Bitcoin (BTC) Latest: BTC/USD at Record High, Takes Aim at 30,000

Martin Essex, MSTA, Analyst

BTC price, Bitcoin news and analysis:

  • The Bitcoin price reached its highest ever level in early European trade Thursday, topping $29,000 and well positioned to hit $30,000.
  • Reports suggest that hedge funds, institutions and even blue-chip US corporates are investing in the cryptocurrency, adding to the demand from retail investors.
Advertisement

BTC/USD heads towards 30,000

The price of Bitcoin rose again in early European business Thursday, hitting a record high at $29,302 and in a good position to reach the $30,000 level, perhaps after some profit-taking. As the chart below shows, BTC/USD remains in a strong upward-sloping channel but is currently overbought, with the 14-day relative strength index above 80. An RSI above 70 points to an overbought asset.

BTC/USD Price Chart, Daily Timeframe (October 13, 2020 – December 31, 2020)

Latest BTC/USD price chart.

Source: IG (You can click on it for a larger image)

Bitcoin Trading
Bitcoin Trading
Recommended by Martin Essex, MSTA
Get Your Free Introduction To Bitcoin Trading
Get My Guide

Recent reports have suggested that hedge funds, institutions and even blue-chip US corporates are now buying the cryptocurrency, adding to the demand from retail investors. A weak US Dollar has helped BTC/USD too, and institutional investors may have also been encouraged to buy Bitcoin by increased US surveillance of the market, clear from the US Securities and Exchange Commission’s decision to file a lawsuit against Ripple Labs, alleging that it raised more than $1.3 billion through the sale and distribution of the digital assets of Ripple (XRP) without registering.

Bitcoin is also seen increasingly as an inflation hedge, an alternative to gold and as a more common mainstream payment method.

Bitcoin BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -1% -6% -2%
Weekly -10% -12% -11%
What does it mean for price action?
Get My Guide

We look at currencies regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

--- Written by Martin Essex, Analyst

Feel free to contact me on Twitter @MartinSEssex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES