Bitcoin's price topped €10,000 on Tuesday, hitting its highest level in 17 months.
The cryptocurrency rose to €10,024 at 13:10 UTC today - a level last seen on Jan. 21, 2018 - according to CoinDesk's Bitcoin Price Index, as prices refreshed 15-month highs in US dollar terms with a move above $11,400.
As of writing, BTC's EUR-denominated exchange rate is trading at €9,939.40, representing 2.75 percent gains on the day.
On a month-to-date basis, BTC/EUR is up about 28.7 percent, while BTC/USD is flashing a 31.2 percent price rise.
Looking forward, BTC/EUR may continue to lag BTC/USD as interest rate futures are pricing a 100% chance the Fed will cut rates at the end of July.
Markets are betting on a high probability that the US central bank will reduce rates two more times after that.
Bitcoin has retraced more than 50 percent of the bear market drop and is currently 260 percent from the low of €2,780 seen in December 2018.
The cryptocurrency is looking overbought at 17-month highs, as per the above-70 reading on the 14-week relative strength index.
The price is showing little signs of bullish exhaustion, with the Chaikin money flow reporting strongest buying pressure since December 2016.
The bullish outlook would be invalidated if the price invalidates bullish higher lows, higher highs pattern with a move below the May 30 high of €8,191.
Bitcoin's Price Rises Above €10K in First Since January 2018
Publicado en Jun 25, 2019
by Coindesk | Publicado en Coinage
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