Bitcoin risks weekly close below $82K on US BTC reserve disappointment

Quick Summary:

Bitcoin’s “short-term movements will be heavily influenced by macroeconomic factors,” the analyst told Cointelegraph:“Next week, all eyes will turn to key US economic events, including the Consumer Price Index, which is expected to signal a slowdown in inflation, and the job openings report, which will serve as a key indicator of labor market strength and the potential for interest rate cuts.”Related: Rising Bitcoin activity hints at market bottom, potential reversalStill, a weekly close below $82,000 may introduce significant volatility for crypto markets.

Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategyMacroeconomic factors weigh on Bitcoin priceBeyond crypto-related legislation announcements, Bitcoin price continues to be pressured by macroeconomic developments and global trade concerns, according to Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo.

The lack of direct federal Bitcoin investment has “led to a near-term negative market reaction and a decline in Bitcoin’s price,” according to Bitfinex analysts.

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Article Details

Author / Journalist: Cointelegraph by Zoltan Vardai

Category: Crypto

Markets: United States

Topics: Bitcoin Bitcoin’s Asset Crypto Reserve Market Price Week Support Signal March

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-09 @ 10:39:39 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 449 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 26827201

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

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Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

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Publisher ID: #11

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