Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Bitcoin tacks on 2%, although demand is still an issue
On Thursday, Bitcoin managed to rally, soaring by up to 2% and rebounding from the 3.5% Wednesday’s minimum.
During the morning trade the currency pair BTC/USD surged to $3,852.62, heading north by 2% on the Kraken cryptocurrency exchange. The number one digital coin managed to get to an intraday maximum of $3,915.51 that appears to be its highest value for the week.
As some experts pointed out, Bitcoin hasn’t managed to hold on to the previous week’s rebound above the psychologically important mark $4,000 and rebounded under this major level. If dip purchasers were awaiting to pounce on the given discounts, then they’d have done so by now.
The recent rebound that hasn’t managed to to stick happens to be an indication that demand is still a serious issue for the leading digital coin and nobody is coming to the rescue anytime in the nearer future.
Now let’s a closer look at altcoins as well as futures.
The vast majority of altcoins, which are crypto assets other than Bitcoin, managed to outperform Bitcoin on Thursday. As a matter of fact, the currency pair ETH/USD tacked on by up to 3.2% ending up with $135.08. As for LTC/USD, this currency pair ascended by about 3.7% concluding the trading session at $45.62. furthermore, the currency pair BCH/USD headed north by about 0.7% showing $129.30. XRP/USD rallied by approximately 2.4% being worth 31 cents.
Bitcoin futures are about to have a three-day dive snapped. March delivery Cboe Global Markets futures XBTJ9 rallied by 1.7% being worth $3,790, while March delivery CME Group futures BTCH9 managed to tack on by up to 2.2% trading at $3,790.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.