• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, us dollar, us dollar index, dxy

3 Reasons Why Bitcoin Price May Slip Below $10K This Week

Yashu Gola
by Yashu Gola
4 years ago
·
Posted in Bitcoin Price
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A potential catalyst for Bitcoin’s supersonic price rally in 2020 has been the combination of ultra-flexible monetary policies of central banks and massive spending by governments.

The prospects of cheaper money have inspired many to seek hedge in what is now the world’s leading cryptocurrency by market capitalization. As a result, BTC/USD jumped from $3,858 to just shy of $10,500 within only five months of trading.

Nevertheless, the very same catalysts that pushed the pair exponentially higher are now giving away the signs of withdrawals. Especially this week, investors have started entertaining the idea of a US economic recovery without additional monetary supports.

The outcome is a corrective BTC/USD trend, now trading about 18 percent lower from its year-to-date high.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, us dollar, us dollar index, dxy
Bitcoin eyes a breakout above $10,500 to retain its short-term bullish bias. Source: TradingView.com

The prospects of a stronger-than-expected recovery in manufacturing and jobs have left Bitcoin in a short-term bearish bias. There are three reasons now that threatens to take the cryptocurrency’s breakdown below $10,000 this week.

#1 A Bullish Dollar

Not many believed that the US dollar would rebound as it crashed to its two-year low levels. But the greenback marked a comeback despite the Federal Reserve’s stress on keeping the interest rates lower and inflation higher above its ideal targets for a more extended period.

us dollar index, dxy, federal reserve
US Dollar Index (DXY) closed last week higher by 0.21 percent. Source: TradingView.com

The appeal for the US dollar resurfaced as risk-on assets went on a price correction spree from their overbought areas. The US equity market, for instance, logged its most significant one-day decline on Thursday since June.

As a result, the tech-savvy Nasdaq plunged 1.18 percent last week, while the S&P 500 and the Dow Jones fell 2.31 percent and 1.82 percent, respectively. Analysts noted that investors decided to sell-off their profitable positions in the US stocks after the Department of Labor revealed an 8.4 percent dip in the unemployment rate.

And the US dollar rebounded, thus reducing bids for safe-havens like gold and Bitcoin. A stronger sentiment for the greenback is one of the reasons why Bitcoin could eye a close at or below $10,000 this week.

#2 US Stimulus

Investors may end up increasing their exposure in the US dollar also as hopes of a successful US stimulus deal fades after last week’s strong economic figures.

A Financial Times report published on Sunday reveals Republicans’ likelihood of squashing the Democrats’ demand for a $915tn aid. Instead, the Trump administration is likely to go ahead with a much-reduced package of $500 billion – or less.

“In the Cares Act [the March stimulus bill] we got to a deal because there was a crisis mentality on both sides when the market was crashing and the economy was shutting down. The crisis mentality is just not there right now on the Republican side,” acknowledged Ben Koltun, senior research analyst at Beacon Policy Advisors in Washington, in his statement to FT.

As the US Congress returns to discuss the matter by the end of this month, investors would most likely keep the US dollar afloat above its local support levels. That–again–puts cold water on Bitcoin’s bullish expectations.

#3 That CME Bitcoin Futures Gap

Bitcoin traders are, meanwhile, expecting the price to move towards a missing candle that appeared on the CME BTC/USD Futures charts in mid-July.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, us dollar, us dollar index, dxy
Bitcoin Futures gap at $9,925-9,665. Source: TradingView.com

The so-called “gap” sits at $9,665. Earlier observations show that Bitcoin fills these spaces 9 out of 10 times. So that leaves the cryptocurrency with at least a 90 percent chance of closing above $10,000.

BTC/USD was trading for $10,209 at the time of this writing, down 0.46 percent into the Monday session.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Yashu Gola

Yashu Gola

Follow

Globetrotter Yashu Gola has been working as a financial/crypto market journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

Full Profile

Related Posts

cena bitcoinu nove historicke maximum ATH 123 tisíc dolárov

Cena Bitcoinu dnes vyskočila nad 123 000 $. Začína „krypto týždeň“

1 month ago
Bitcoin price

Bitcoin Price To Regain Upward Momentum? These Bitfinex Longs May Hold The Answer

3 months ago
bitcoin

Bitcoin Price Drops With Fed Rate Cuts On The Horizon: Calm Before The Storm?

11 months ago
bitcoin

Bitcoin Open Interest Growth Lags As Price Rebounds: Here’s What It Means For BTC

11 months ago
bitcoin

Bitcoin’s Four-Year Cycle Declared Dead By Outlier Ventures, Here’s Why

11 months ago
Bitcoin Might Not Benefit From Federal Reserve Rate Cuts, Former BitMEX CEO Explains Why

Bitcoin Might Not Benefit From Federal Reserve Rate Cuts, Former BitMEX CEO Explains Why

11 months ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    12 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    13 hours ago
  • From Institutional to Individual Investors: How XRP and...

    13 hours ago
  • Despite XRP price fluctuations, Mint Miner lets holders...

    14 hours ago
  • CryptoMiningFirm Launches First XRP, BTC Mobile App: Earn...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.