RATE Group | Bitcoin Directionless as Trade Tensions Ramp Up Before Talks
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Bitcoin Directionless as Trade Tensions Ramp Up Before Talks

09 Oct Bitcoin Directionless as Trade Tensions Ramp Up Before Talks

Posted at 13:30h in Bitcoin News by

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An unch bitcoin struggled to find its next direction on Wednesday as investors placed their sentiments behind global stocks.

The benchmark cryptocurrency surged by a minor 0.07 percent to trade at $8,185.34 – as of 11:24 UTC. Earlier today, it had established a daily session high of $8,245 but corrected after the European session open. That coincided with early gains in EU’s Stoxx 600. The index surged by 0.5 percent in early morning trade, while the UK’s FTSE 100 was also up by 0.4 percent.

bitcoin, bitcoin price

Bitcoin directionless as investors remain focused on trade talks this week | Image credits: TradingView.com

As of the current financial quarter, bitcoin is trending downwards within a wide range (the purple area in the chart above). The cryptocurrency dropped by as much as 44.47 percent from its year-to-date high. Moreover, it is looking to pursue an extended downside momentum, thanks to the evident absence of big buyers.

Trade Talks and Brexit

Speculators have shifted their focus on the

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