Bitcoin at $22.4K – Market Watch for March 6th
Today is a typical Monday as the markets await Jerome Powell’s testimony before Congress
Bitcoin Flatlines at $22.4K Ahead of Powell’s Congress Testimony: Market Watch
“Last week was rather uneventful in terms of price action for the primary cryptocurrency, whose most significant increase came on Wednesday when it briefly tapped $24,000. It failed there and resumed its range trading between $23,000 and $24,000.
While the reasons are still debated, the situation changed on Friday when the asset plummeted by over a grand in minutes and fell to $22,000, thus marking its lowest price point in 18 days.
BTC bounced off and added around $400 in the following hours as the weekend came. It spiked to $22,600 on Saturday evening but failed to continue upwards and went back down to $22,400, where it’s been trading ever since.
Its market capitalization stands inches above $22,000, while its dominance over the altcoins is slightly higher than yesterday at 42.4%.
Yet, all that price stability could change in the following few days as Jerome Powell, the Chairman of the US Federal Reserve, is scheduled to testify before Congress regarding the central bank’s future monetary policy.”