International Economic
Bitcoin clings to $47,000 after three days of declines as it ends its best year ever
The cryptocurrency market had a modest rebound on Thursday, that continues on Friday, as Bitcoin and the rest of the altcoins, are ready to hold positions on the last day of the year of the consecration of the cryptosphere. The world's most traded digital currency clings to the $47,000 barrier after three days of declines this week, that all but negated the Christmas rally, while Ethereum tries to reconquer $3,800.
US weekly jobless claims lower than expected
US weekly jobless claims came in at 198,000 for the week to December 25, according to data published by the US Department of Labor on Thursday and below expectations of 208,000.
Bitcoin eyes record lows and is on track for its worst month since March 2020
December was a disastrous month for the cryptocurrency market. The fears that the irruption of the Omicron variant imprinted on the main markets and that set back most assets, in favor of the Christmas rally, weighed heavily on Bitcoin and altcoins, as well as on other risk assets. However, the digital currencies market does not sustain its recent gains, the result of the Christmas holiday bull run, and is on track to close its worst month since March 2020.
US pending home sales drop in November
US pending home sales unexpectedly fell in November, according to data released on Wednesday by the National Association of Realtors.
"There is nothing to suggest that Bitcoin’s recent $45,000 to $52,000 is under threat"
The cryptocurrency market has left notable falls in recent hours, that almost entirely negate Bitcoin´s and other altcoin´s Christmas rally. They settle in the red with declines that have reached 10% in some tokens. The queen of cryptos fell 7% on Tuesday, and now it gives up 3% on Wednesday, testing the $47,000 support that it has respected until now.
Even if Bitcoin closes below $50,000, it achieved massive gains in 2021
The cryptocurrency market shows signs of running out of steam almost as soon as it began due to the Christmas rally. As we enter the final stretch of the year, Bitcoin attracts the attention of investors looking for investment opportunities after the correction that began last November, following the achievement of new all-time highs. Therefore, Bitcoin (BTC) runs aground at $50,000 after rebounding to $52,000, before falling towards the support of $47,000. However, "it should be noted that during the 2021 year, the cryptocurrency accumulates a rise of over 80%," commented Diego Morin, analyst at IG Markets.
Bitcoin falls below $50,000 after hitting highs since the December flash crash
Bitcoin falls below $50,000 on Tuesday, after hitting the $52,000 mark on Monday, its first high since Dec. 4th, when the world's largest cryptocurrency staged a 'flash crash' that saw it drop as low as $42,000. Monday's boom followed several days of gains for both the creation of Satoshi Nakamoto and for the main 'altcoins', with some notable rises for Terra, Polkadot or Cardano network tokens. However, they are experiencing a correction that reaches 7% for some of them on Tuesday.
Bitcoin remains below $51,000 and struggles to extend its Christmas rally
The cryptocurrency market is taking advantage of the Christmas season to let itself be carried away by purchases and rises that have raised the price of some tokens up to 30% during the last week. Terra, Shiba Inu, Cardano or Polkadot tokens leave notable advances in recent days, while Bitcoin progresses during four consecutive days with a close above the previous resistance at $50,000. Bitcoin also leaves rises of around 9% in the last week and keeps its rises limited to $51,000.
University of Michigan's consumer sentiment index improves in December
US consumer sentiment improved in December, according to the University of Michigan's final December consumer sentiment index.
US initial jobless claims unchanged week-on-week
Claims for unemployment benefits were unchanged in the seven days ended 18 December after hitting their lowest level since 1969 two weeks earlier.
US durable goods orders up 2.5% month-on-month
Durable goods orders placed with US factories increased in November, up 2. 5% month-on-month for the biggest rise in six months, exceeding forecasts and indicating that steady demand would likely help drive production growth early in 2022. The increase partly reflected a sharp rise in commercial aircraft orders.
US consumer prices rise at fastest pace in nearly 40 years
US consumer prices rose at their fastest pace in nearly 40 years in November amid surging inflation.
Bitcoin fails to break above the $50,000 level
Bitcoin still fails to break above its $50,000 resistance, despite a brief rally on Wednesday. Meanwhile, bulls continue to wait for the queen of cryptocurrencies to break this important price level and manage to stay above it.
US GDP increases 2.3% in Q3
US gross domestic product increased at a 2. 3% annualised rate in the third quarter, according to the Commerce Department, with the economy on track to record its best full-year performance since 1984 despite an increased level of Covid-19 infections throughout the period.
US existing home sales rise in November
Sales of US existing homes rose in November despite tight supply and rising prices, according to data released on Wednesday by the National Association of Realtors.
Conference Board's consumer confidence index increases in December
The Conference Board's latest consumer confidence report showed an increase in December following an upward revision for November, with the index jumping to 115. 8 to 111. 9.
Bitcoin targets $50,000 after signaling the bottom of its recent correction
Green prevails in the cryptocurrency market on Tuesday, as a small Christmas rally seems to be in reach after its recent correction of several weeks. Although Bitcoin and Ethereum haven´t taken off just yet, some 'altcoins' are in full bull run and are drawing analysts' attention to their huge potential for decentralized finance. Specifically, the tokens of Terra (LUNA) and Avalanche (AVAX) stand out above the rest on a day in which rises of 10% are the keynote among the largest capitalization digital currencies.
Growing wave of Omicron sees German consumer confidence tumble
Consumer confidence in Germany decreased noticeably in December, according to a closely-watched survey released on Friday, with both economic and income expectations falling significantly, along with the propensity to buy.
Bitcoin rebounds from two-week lows, but can't find 'momentum'
The cryptocurrency market is unwinding from its recent lows of more than two weeks on Tuesday. Both bitcoin and most of the major altcoins embark on a short-term rebound, but without abandoning the price range to which they are anchored. The queen of cryptos eased down to a low of $4,580 on Monday, its worst exchange rate since the December 4th 'flash crash', while Ethereum and other tokens also traded lower. Nonetheless, they are advancing about 3%, 24 hours later, as they try to find 'momentum'.
Bitcoin hits lows since 'flash crash' and seeks momentum for a bullish year-end close
Bitcoin and Ethereum enjoyed a relatively quiet weekend, as volumes and volatility dropped, while the price of the number one digital currency hit a low of around $4,500. This figure is the cryptoasset's worst one since the December 4th 'flash crash' and could result in difficulties to achieve a bullish year-end close. Bitcoin´s trading is below $47,000 on Monday.