bitcoini (BTC) braved less volatile but choppy trading on April 9 as the United States Federal Reserve flooded markets with trillions in dollars.
Dnevni pregled trga s kriptovalutami. Vir: Coin360
Fed rolls out trillions in loans
Podatki iz Coin360 in Trgi Cointelegraph showed BTC/USD still keeping within a tight $400 corridor between $7,100 and $7,410 as the week continued.
A sudden dip to $7,110 formed the most volatile feature of the past 24 hours. At press time, Bitcoin traded at around $7,325.
Diagram cen Bitcoin 1 na dan. Vir: Coin360
The largest cryptocurrency appeared broadly unfazed by the announcement of a fresh stimulus package from the Fed worth $2.3 trillion.
V sporočilo za javnost, the central bank said that its aim was to “support the economy” as the U.S. coronavirus death toll reached 14,800.
Board Chair Jerome H. Powell said:
"Vloga Feda je zagotoviti čim več olajšanja in stabilnosti v tem obdobju omejenih gospodarskih dejavnosti, naša današnja dejanja pa bodo pripomogla k čim hitrejšemu okrevanju."
The cash injection comes just weeks after a giant $6 trillion liquidity tsunami from the Fed, a sum so large that it equals the entire U.S. GDP from 1990. Earlier on Thursday, Cointelegraph poročali that U.S. national debt was at a historic high of $24 trillion.
Commentator: BTC is staging a “sucker rally”
While markets were also buoyed by the potential for a cut in oil production after Thursday’s OPEC+ meeting, among Bitcoin analysts, the mood was overwhelmingly bearish.
Despite rising around 8% in a week, Bitcoin, like traditional markets, was unlikely to sustain its trajectory, Cointelegraph Markets’ Michael van de Poppe opozoril.
“The price of $BTC is slowly grinding upwards, but volume is decreasing,” he wrote in a Twitter objave v četrtek.
“The $6,900 shorters got stopped out & flipped long, while the $7,700-8,000 shorters are waiting. More and more people turning bullish, giving me indication that liquidity is beneath us. Let’s see.”
Popular commentator Looposhi was more damning, writing:
“I just think it’s cute how some of you about to burn their account over some textbook sh*t. Let me be very clear. THIS IS A #Bitcoin SUCKER RALLY!”
Meanwhile, U.S. jobless claims totaled over 6 million for a second week, van de Poppe agreeing with the International Monetary Fund, or IMF, that coronavirus would create the worst recession since the Great Depression of the 1930s.