September 24, 2021

Exchange reserves plunge to pre-$61K lows: 5 things to watch in Bitcoin this week

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Bitcoin (BTC) sees a cautious start to the week as macro markets dither and Turkey’s currency loses 15% of its value overnight.

After a disappointing weekend that featured a rejection at $60,000, Bitcoin has yet to impress traders, who are expecting sideways action in the coming days.

Cointelegraph takes a look at five factors that could influence how Bitcoin price action evolves as a new week gets underway.

ll quiet among stocks

The picture across equities is one of hesitancy on Monday as concerns over bond yields remain and coronavirus bites.

It has become a familiar picture for many, Asian markets opened with modest movement. A rise in economic activity will likely fuel bond worries with 10-year Treasury yields already at 1.7% in the United States after gaining rapidly in recent weeks.

Taking a different tone, China revealed that it had more money to spend in financial easing, something which officials claim will reduce risk, rather than add to it.

“This will not only provide positive incentives for economic players, but also help create an environment less likely to spawn financial risks,” Yi Gang, Governor of China’s central bank,Title: Exchange reserves plunge to pre-$61K lows: 5 things to watch in Bitcoin this week
Sourced From: cointelegraph.com/news/exchange-reserves-plunge-to-pre-61k-lows-5-things-to-watch-in-bitcoin-this-week
Published Date: Mon, 22 Mar 2021 08:10:55 +0000