BTC/USD Loses Around 50% from its November Peak, in a Bad Day for Cryptos
Cryptocurrencies start the week with losses and Bitcoin erases around 50% from the November 2021 record high amidst broader poor sentiment
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
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Cryptocurrencies start the week with losses and Bitcoin erases around 50% from the November 2021 record high amidst broader poor sentiment
The week of May 02-06 marked another busy period, as we had many firms reporting the financial results, including Airbnb, German automaker BMW, European planemaker Airbus, ride-hailing rivals Uber and Lyft and more
The German index started the week on the front foot, but plunged yesterday as market sentiment soured, extending losses today as industrial production drops
The pair tries to catch a breath, following its worst day in two years, due to the Bank of England gloomy economic outlook
The central bank delivered its fourth interest rate increase in a row, in order to combat surging inflation and sees more hikes ahead
BTC/USD had a good day on Wednesday, helped by the US Dollar’s negative reaction to the Fed decision, but rejected 40,000 and faces difficulties today
The pair moved higher on Wednesday after the Fed’s well-telegraphed rate hike, but faces pressure today, as markets turn their attention to Friday’s employment report form the US
The US Federal Reserve hiked interest rates by 50 basis points as expected on Wednesday, which was the biggest increase since 2000 and the dot-com bubble
The pair made a poor start to the month, but finds support today, as markets brace for the monetary policy decisions by the US Fed and the Bank of England
The Reserve Bank of Australia (RBA) increased interest rates by 25 basis points today, delivering the first hike since November 2010, in a backdrop of surging inflation
The week of April 25-29, is probably the busiest one of this earnings season, as we had a slew of high-profile companies reporting their results, including the rest of the FAANGs - Facebook (Meta), Apple, Amazon, Alphabet (Google)
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