Bitcoin climbed above $49,000 at the end of last week following the announcement of Fed Chairman Powell that the Fed could keep interest rates lower for longer last Thursday (ref). However, Bitcoin failed to extend to $50,000 and consolidated to a $48,000 level with a dominance of 43.9% at the time of writing. Ethereum soared above $3,300 last Monday but retraced sharply on Tuesday to a $3,100 level. It dropped and renounced over 4% from Thursday to Friday, trading between $3,180 and $3,280 during the weekend. The price consolidated around $3,200 at the time of writing.Overall, the price index grew by 0.03%; while the volume declined by 9.21% and the volatility index rose 8.81%.
Crypto.com Weekly Market Update (Week 34, 23/08/2021 - 29/08/2021)
Crypto.com Weekly Market Update (Week 34…
Crypto.com Weekly Market Update (Week 34, 23/08/2021 - 29/08/2021)
Bitcoin climbed above $49,000 at the end of last week following the announcement of Fed Chairman Powell that the Fed could keep interest rates lower for longer last Thursday (ref). However, Bitcoin failed to extend to $50,000 and consolidated to a $48,000 level with a dominance of 43.9% at the time of writing. Ethereum soared above $3,300 last Monday but retraced sharply on Tuesday to a $3,100 level. It dropped and renounced over 4% from Thursday to Friday, trading between $3,180 and $3,280 during the weekend. The price consolidated around $3,200 at the time of writing.Overall, the price index grew by 0.03%; while the volume declined by 9.21% and the volatility index rose 8.81%.