RATE Group | Bitcoin Price Pulls Back to $9.2K, BTC Realized Cap Hits All-Time High
77741
post-template-default,single,single-post,postid-77741,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Price Pulls Back to $9.2K, BTC Realized Cap Hits All-Time High

31 Jan Bitcoin Price Pulls Back to $9.2K, BTC Realized Cap Hits All-Time High

Posted at 14:40h in Bitcoin News by

[ad_1]

Bitcoin price (BTC) pulled back to $9.2K levels on Jan. 31, or almost 1% lower over the past 24 hours, after exceeding $9,500 earlier today. 

“It’s over 9 thousand” BTC price hits new 2020 high

The move to $9,530 resulted in a new 3-month high for BTC/USD alongside rising volume, pointing to an overall bullish trend that has persisted in the first month of 2020.

Bitcoin daily price chart. Source: Coin360

Meanwhile, the founder and CEO of Global Macro Investor, Raoul Pal, suggested today that more interest rate cuts by the United States Federal Reserve are coming, which is expected to have a positive effect on the cryptocurrency market. 

“The bond market, already rallying on weakness saw the light immediately and 2-year yields collapsed, breaking key supports and a new cyclical low,” he tweeted on Jan. 31, adding: 

“The Fed are going to have to cut aggressively and soon.” 

Pal, a former head of equities and equities derivatives at Goldman Sachs UK office, explains that…

[ad_2]

Source link

Tags:
, , , , , , , , ,