I-Bitcoin iphula i-$ 41,000 phakathi koNxibelelwano olomeleleyo kunye neeMarike ze-Equity

UAzeez Mustapha

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Fumana imiqondiso ye-VIP ye-forex, imiqondiso ye-crypto ye-VIP, imiqondiso yokujingi, kunye nekhosi ye-forex simahla ubomi bonke.

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Ukuseta imizuzu eli-10 kunye neenzuzo ezinkulu. Incwadi yesikhokelo ibonelelwe ngokuthenga.

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Imirhumo yenyanga iqala kwi-£58.


The last 48 hours have been an interesting one for Bitcoin (BTC) and the cryptocurrency market and have greatly favored bulls.

The benchmark cryptocurrency breached the $41,000 on Friday for the first time in two weeks pushing the broader market valuation up by over 10% in the last seven days. Interestingly, some factors played a critical role in the recent bullish resurgence.

One of these factors is the recently-developed correlation between Bitcoin and the traditional stock market. That said, recent favorable macroeconomic events have boosted the equities market, which also benefited BTC and the crypto market by extension.

Also, a recent CoinGlass revealed that the market recorded a massive $220 million short position liquidating between Friday and Saturday across top crypto exchanges, including Binance, OKEx, FTX, Bybit, Huobi, BitMEX, and many others.

That said, 80% of all liquidations in the last two days were short positions, which sparked a short squeeze.

Finally, the market recently welcomed better-than-expected NFPs data from the US labor department, which showed that the country added 467K jobs in January, despite the adverse effects of the Omicron variant. The US Labor Department’s Bureau of Labor Statistics revealed that the unemployment rate grew from 3.9% to 4% in a short period.

Amanqanaba eBitcoin angundoqo ekufuneka ebukele- ngoFebruwari 6

After recording a ‘cup’ pattern between Thursday and Friday, BTC finally received the push it needed to post a leg-up, the next phase of the ongoing mini bullish cycle. However, thanks to influx from other fundamental factors, the benchmark cryptocurrency recorded a sharp surge to the $42,000 top within 12 hours.

I-BTCUSD - Itshathi yeeyure ze-4 kwiGemini. Umthombo: TradingView

The flagship cryptocurrency has now recorded a momentum slowdown at the $42,000 top and has fallen into a short consolidation between $42,000 and $41,000. That said, we are likely to see a bullish continuation over the coming hours and days amid a goodish pickup in the global financial markets and the crypto space.

Okwangoku, amanqanaba okumelana nam akwi-42,000 yeedola, i-43,000 yeedola, kunye ne-44,000 yeedola, kwaye amanqanaba am enkxaso angundoqo akwi-$41,000, i-$40,000, kunye ne-$39,000.

Imali iyonke yentengiso: $ 1.90 zezigidi

Imali yeNtengiso yeBitcoin: $ 789.1 billion

I-Bitcoin Dominance: 41.5%

Inqanaba lentengiso: #1

 

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Yabelana nabanye abarhwebi!

UAzeez Mustapha

U-Azeez Mustapha yingcali kwezorhwebo, umhlalutyi wemali, umhleli weempawu, kunye nomphathi wezezimali ngaphezulu kweminyaka elishumi yamava kwicandelo lezemali. Njengombhali webhlog kunye nombhali wezemali, unceda abatyali mali baqonde iikhonsepthi ezintsonkothileyo zemali, ukuphucula izakhono zabo zotyalo-mali, kunye nokufunda ukulawula imali yabo.

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