Bitcoin - Review from 09.10.2024

Financial and commodity markets analytics


The Bitcoin price remains stable

and currently resides at the mid-level of a broad range. However, it is essential to remember that the longer the price of an asset remains at one level, the more substantial the potential volatility could be, when attempts are made to exit the range. This is associated with the accumulation of deferred interest of sellers and buyers, which resides with a state of uncertainty. In this case, an information trigger could potentially catalyze the price to exit its usual volatility range. The forthcoming news agenda includes possible comments from officials regarding the published FOMC protocols in the US, as well as inflation data from the United States, which are expected on Thursday.