Bitcoin Demonstrates Resilience but Struggles to Rise Above $87,000

Dow Jones
昨天

1138 GMT - Bitcoin is showing resilience, along with other risky assets, to recent major headwinds, Block Scholes analyst Thahbib Rahman says in a note. The U.S. Senate's failure to advance the Clarity Act crypto regulation bill and the Federal Reserve's decision to raise interest rates in September have failed to meaningfully weaken bitcoin, he says. However, bitcoin has struggled to sustain levels above $87,000, making it a key resistance level, he says. Spot bitcoin exchange traded funds demand has also eased slightly. Still, investors are maintaining a positive bias and "as long as geopolitical tensions do not escalate and interest rate hike expectations remain subdued, markets could remain in risk-on mode." Bitcoin rises 0.6% to $86,270, LSEG data show.

 

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