Bitcoin (BTC) headed for $ 43,000 on September 29th as a “macro interlayer” put the bulls on hold.
BTC continues to drop below $ 41,000
Data from Cointelegraph Markets Pro and TradingView show BTC / USD swings slightly higher after retesting a fresh $ 40,000 overnight.
The pair has shown what underlying strength may be after several soundings towards the $ 40,000 mark, but on Wednesday traders more broadly warned that little has really improved.
“BTC is bouncing back a bit today, but the macroeconomic dilemma remains the same: It remains just below the 21-week EMA,” said the trader and analyst Rekt Capital summary in his latest Twitter update.
“$ BTC needs to rebound by ~ $ 43,600 this week to build on the bullish momentum that BTC created after falling to $ 40,000 last week.”
That level would bring Bitcoin to just over $ 43,000 at a worst-case price for its monthly closing price that PlanB predicts. repeat Play this week.
Localized events, namely the major exchange, Binance, which pauses withdrawals and trading for two hours for scheduled maintenance while having little impact on spot price movement.
As for macro signals, Thursday remains the day for US lawmakers to vote on the controversial $ 1 trillion infrastructure bill after the original deadline was extended.
Binance Coin is flattening the altcoin trend
Altcoins held steady that day, with Ether (ETH) stagnating at just under $ 3,000.
Related: Signs of fear appear when the Ethereum price falls back below $ 3,000
Only Binance Coin (BNB) made notable moves in the top ten cryptocurrencies by market capitalization, up 7% upon completion of maintenance.
As Cointelegraph reported on Monday, altcoins are expected to trend lower against Bitcoin in the coming months before making their own comeback in 2022.