Bitcoin heads north, trying to dodge back-to-back losing weeks

Bitcoin heads north, trying to dodge back-to-back losing weeks

On Friday, Bitcoin prices managed to leap due to the fact that bullish traders are trying to dodge consecutive losing weeks in the financial markets, which have faced up to five weekly losses out of last six.

As a matter of fact, the currency pair BTC/USD ended up with $6,369.84, heading north by up to 0.3% on the Kraken cryptocurrency exchange.

Additionally, while the medium as well as long-term trend is still descending, data drops a hint that retail investors haven't given up yet.

According to retail trader data, up to 82.6% of market participants appear to be net long with the ratio of investors long-to-short at about 4.76 to 1. Eventually, the total number of market participants net-long rallied by up to 0.7% from yesterday and also diving by 2.9% from the previous week. Meanwhile, the number of investors net-short declined by 2.7% from yesterday and also inched down by 0.5% from the previous week.

Market experts told that they are used to taking rather a contrarian view to market sentiment, and the very fact that investors are net-long drops a hint that Bitcoin prices kight keep diving.

Apart from that, altcoins, which are any crypto assets except Bitcoin, managed to outperform in general.  The currency pair ETH/USD rallied by 1.5% ending up with $200.14. As for BCH/USD, this currency pair inched up by up to 9.3% coming up with a reading of $461.50. The currency pair LTC/USD tacked on by 0.25% ending up with $51.40, while XRP/USD surged by 0.6% showing 46 cents.

As for Bitcoin futures, they concluded the week on an upbeat note. Eventually, November delivery Cboe Global Markets November futures XBTX8 surged by 0.6% being worth $6,347.50. Additionally, November delivery CME Group futures BTCV8 soared by 0.5% reaching $6,345.






Latest news

Gold and Bitcoin Rise, Fed is Eyed
Gold and Bitcoin Rise, Fed is Eyed

Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera