The risk sentiment gets better as Chinese data improves
The recent Chinese figures bring optimism
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.
Similar
ZAR and TRY: central banks bring the action
On Thursday, January 16 two central banks: the Reserve bank of South Africa and the Turkish Central Bank will make their interest rate decisions.
USD/CHF and EUR/CHF dropped: what do the banks say?
On Wednesday, January 15, USD/CHF fell to the minimal level since September 2018. The pair declined after the United States put Switzerland on the watch list as a currency manipulator.
Latest news
ALPHABET: the league of giants
You are still in doubt whether it makes sense to trade stocks? Watch this.
The risk sentiment gets better as Chinese data improves
The recent Chinese figures bring optimism
ZAR and TRY: central banks bring the action
On Thursday, January 16 two central banks: the Reserve bank of South Africa and the Turkish Central Bank will make their interest rate decisions.
Deposit with your local payment systems
