"Wait and See US Economic Data Makes Bitcoin Decline at US$ 98 Thousand"
Bloomberg Technoz, Jakarta - The price of Bitcoin (BTC) continues to decline. Currently, the price is consolidating in the price range of US$ 94,500 to US$ 99,000 in one trading day (1 day). When this article was written, Bitcoin was perched at a stable level of US$ 98,000.
Bitcoin had strengthened in yesterday's trading to soar to US$ 104,000, responding positively to the sentiment of President-elect Donald Trump's election of a pro-crypto figure, namely Paul Atkins, as a candidate to replace Gary Gensler.
Bitcoin Price Increase (Bloomberg)
Atkins being Trump's choice for the position of Chairman of the Securities and Exchange Commission (SEC) is believed to encourage higher speculation on digital assets, especially Bitcoin.
If elected, Atkins is expected to focus on easing regulations and imposing lighter penalties for violations.
"Bitcoin still has the potential to break through the psychological resistance figure of US$100,000. However, if Bitcoin fails to stay above the MA-20, the price could fall back to the support level of US$91,000. Technical indicators show that Stochastic is strengthening at the centerline, while the MACD Histogram indicates limited Bearish momentum," explained Panji Yudha, Ajaib Crypto Analyst in the latest research on Friday (6/12/2024).
Citing CoinMarketcap data, Friday, the top market caps of Crypto Assets experienced a downward movement with a tendency to weaken, wait and see important US Economic data tonight. The deepest decline occurred in Cardano ADA, reaching 5.41% in 24 hours at a price of US$1.16.
In the next position, there is XRP Coin which weakened by 4.86% in 24 hours at a price of US$2.28.
Bitcoin is moving down in a stable limited range at around US$98,000 to US$98,079 or minus 4.01% in 24 hours, or one day compared to the previous trade.
