Bitcoin Over $22K – 5 Things to Know in Bitcoin This Week
Bitcoin is at $22380 this morning – it’s Monday so we’ve got a lot of time to see which way we’re headed in what is said to be a hectic week coming up
The Fed, the Merge and $22K BTC — 5 things to know in Bitcoin this week
“Bitcoin (BTC) starts a pivotal week on a firm footing as bulls succeed in wiping out weeks of losses.
After closing the latest weekly candle at $21,800, its highest since mid-August, BTC/USD is back on the radar as a long bet.
The end to an extended period of downside interspersed with sideways price action now appears firmly at an end, with volatility expected to form a major theme in the coming days.
In fact, few weeks in Bitcoin’s history have been as hectic as this one is likely to be.
In addition to the Ethereum Merge on Sept. 15, the United States inflation trend will come under scrutiny on Sept. 13 with the release of August Consumer Price Index (CPI) data. The recipe for unpredictability is there.
How will Bitcoin weather the storm? While the macro picture looks muddy for risk assets as the United States dollar surges, on-chain data continues to point to a price bottom already in the making.
In addition, Bitcoin’s network fundamentals are poised to hit new all-time highs this week, underscoring miner resilience and recovery, along with conviction over profitability.”