Bitcoin recovers above $100,000

Source: Dukascopy Bank SA
Bitcoin has reached $100,000, marking a major recovery after recent drops. This price increase is fueled by several factors, including more institutional investment, concerns over global economic stability, and growing belief in Bitcoin as a hedge against inflation. Large companies like Tesla and MicroStrategy have embraced Bitcoin, and more financial institutions are offering crypto products.



Economic uncertainty, including fears of inflation and currency devaluation, has made Bitcoin appealing as a store of value. Additionally, Bitcoin is becoming more accepted as a payment method, and blockchain technology is expanding its use in areas like decentralized finance (DeFi) and non-fungible tokens (NFTs).

The current price action suggests that $102,400 should be considered a key resistance level for further price discovery. If this resistance level is breached, it can be considered likely that the price will move towards $108,610.

Back to articles

Actual Topics

Tue, 21 Jan 2025 09:13:44 GMT

Gold rises above $2,700.00

Gold has risen above $2,700, marking a 40-day high. If momentum builds, the probability of the price moving towards $2,800 increases. Uncertainty is elevated with Donald Trump's return to office. If hedging continues long-term against political uncertainty, higher levels of gold should be considered. A rejection of the $2,720 price level could push the price lower, potentially towards the $2,621

Thu, 16 Jan 2025 12:35:03 GMT

Consumer price index rises

The Consumer Price Index (CPI) for All Urban Consumers rose 0.4% in December, following a 0.3% increase in November. Over the past year, the CPI increased by 2.9%. Energy prices rose 2.6% in December, with gasoline up 4.4%. Food prices also increased by 0.3%, both at home and away from home. Excluding food and energy, the CPI rose 0.2% in

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.