Bitcoin (BTC) managed to perform a modest rally at the beginning of the US negotiation session on Friday, but the movement was quickly off. Are bulls lightening positions before the weekend?
They could be forgiven by doing so.
In his Friday’s note, Gendrick’s Geoff by Standard Chartered said the price of Bitcoin has decreased for five consecutive weekends (measured from 5 pm et on Friday A at the same time on Sunday).
Among the scares during that period of time were AI’s news and Trump’s tariff threats.
“This is not normal,” Kendrick recalled, noting that the weekend price action for all 2024 tended to be quite silenced, with Monday and Friday instead of being the time to pay attention to the great movements.
Rally failed on Friday
As the early action passed on Friday, Bitcoin managed to meet around 1.5% to $ 97,600 in a very short time after the publication of US retail sales data. UU. For January. The number of economists lost a mile, giving the hope that the target cuts for the Federal Reserve can return to the table in the first half of the year.
Since then, the price has returned to approximately where it was ahead of the printing at $ 96,400.
An additional thought for those who fear about next weekend: it is three days in the United States, which is free on Monday for the presidents day.
