NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Falls After Hitting $9.9K as Fed Hype Wanes

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, crypto, cryptocurrency, btcusd, btcusdt, xbtusd

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • A three-day rally that took the bitcoin price near $10,000 Thursday took a U-turn on profit-taking sentiment.
  • The cryptocurrency fell to as low as $9,226 on Friday on US crypto exchange Coinbase, albeit sharply recovering into the European trade session.
  • The price move downhill came as the U.S. stock futures slid on trade war worries, Fed’s warning about weak economic growth, and rising unemployment claims.

Bitcoin jumped towards $10,000 this Thursday but failed to secure the bullish territory for a longer timeframe.

The benchmark cryptocurrency jumped 16.15 percent in three days to hit $9,943 on Coinbase. The level served day traders opportunities to extract short-term profits. The capitulation ensued into the European trading session Friday, taking prices to as low as $9,226.

bitcoin, crypto, cryptocurrency, btcusd, btcusdt, xbtusd
BTCUSD trading near resistance confluence | Source: TradingView.com, Coinbase

Technical readings on Bitcoin’s daily chart showed the cryptocurrency near a resistance confluence. The red bars, as shown in the chart above, represented areas with higher selling sentiment. The current block contained a long-term descending trendline that capped the price from pursuing full-fledged upside moves. It also contained $10,000, a psychological resistance level.

Bitcoin fell back after testing the red zone as its local top, pulling back sharply to its intraday low at $9,226. But a favorable buying sentiment near the local low helped price the push back above $9,500, indicating a potential retest of the red bar.

Fed Hype

Bitcoin’s exponential gains earlier this week came after Federal Reserve Chairman Jerome Powell’s warning about “deeper and longer recessions” in the U.S. economy. Trade pundits were expecting a grim market outlook, a sentiment that sent the U.S. equities lower on Wednesday.

A day later, the U.S. Labor Department dropped another bad news on the market. Its latest jobless data showed that the number of unemployment claims surged to 36.5 million. Bitcoin held its gains around the announcement. The Dow Jones, the S&P 500, and the Nasdaq Composite fell, on the other hand.

Nevertheless, the Wall Street indices surged dramatically before the New York closing bell Thursday. Around the same time, the bitcoin price had started correcting lower.

As of today, the U.S. stocks futures were hinting to open lower. The Wall Street Journal reported it is because of trade fears.

What’s Next for Bitcoin

Bitcoin was trading 1 percent higher into Friday, waiting to retest $10,000 as its interim resistance. But the cryptocurrency lacked volume to move beyond the descending trendline – breaking above it could declare a medium-term bull market.

Moving further, BTCUSD could maintain floor at or above $9,500, thereby maintaining its short-term bullish bias. A move below the level, however, could risk an extended fall towards $8,000-8,100 (the orange 200-day moving average curve).

Meanwhile, a deeper correction in U.S. stock market could increase downside risks in the bitcoin market. That has nothing to do with correlation but investors’ tendency to sell the profitable cryptocurrency to cover their losses from traditional assets.

Photo by Muzammil Soorma on Unsplash

Tweet123Share206ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Stagna: I Dati On-Chain Mostrano Accumulo da Parte delle Whale

Ethereum continua a mostrare un movimento di prezzo limitato verso l’alto, nonostante i guadagni registrati la scorsa settimana. Negli ultimi...

clararosati 5 hours ago
Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin climbed above $109K, triggering a surge across the markets: Ethereum ($ETH) – up 4.65% XRP ($XRP) – up 3.86%...

Aaron Walker 5 hours ago

Smart Contract Lock and CertiK Audit: The Driving Factors Behind $FUN’s Breakout

Web3 gaming’s FUNToken emerges with strengthened fundamentals following smart contract lock implementation and CertiK audit clearance. Trading at $0.009894 as...

News BTC 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin price news

Dogecoin’s Quiet Setup Could Detonate Shorty, Says Analyst—Here’s The Target

Jake Simmons 36 minutes ago
Bitcoin

The Silent Bitcoin Accumulation: Public Companies’ Surprising H1 2025 Lead

Christian Encila 3 hours ago
buy bitcoin Arthur Hayes

Buy Bitcoin Before Jackson Hole—Or Regret It Forever, Says Arthur Hayes

Jake Simmons 5 hours ago

Premium Sponsors

Press Releases

  • The smartest way to make money in 2025: Invest in cloud...

    2 hours ago
  • 仮想通貨プレセール注目|ビットコイン、2025年第3・第4四半期が最良期と予測

    ...

    2 hours ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    2 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    2 hours ago
  • 仮想通貨おすすめ|SPX6900のように急成長が期待される最新ミームコインプレセール

    ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.