Week Financial News

cryptos are traded in the red. Bitcoin started the week trading at the $19,000 range but fell to the $18,000 level in the mid-week. Bitcoin (BTC) was more than 71 per cent down from it's all-time high by touching its lowest since July 12 as investors moved away from the riskier assets. One of the reasons for the downward trend could be because of the long US Labor Day holiday weekend. But, the market started showing some signs of recovery on Thursday and scaled up aggressively on Friday. BTC rose by nearly 10 per cent and regained its $21,000 position back. This means that buyers are now ready for the midterm rise. If bulls can hold BTC above the $20,575, we could also see it trade above the $22,400 level soon. The second largest cryptocurrency, Ethereum (ETH), continued to trade sideways, extending its previous weekend’s steadiness into the early week.

Bitcoin (BTC) starts a pivotal week on a firm footing as bulls succeed in wiping out weeks of losses.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

The U.K.’s Office for National Statistics releases gross domestic product data for the three months through July. The British economy shrank in the three months through June as households cut back on spending.

Chainlink’s native cryptocurrency LINK might be the next candidate for a major bullish move. It was among the top trending cryptocurrencies at press time and its price action might be headed for a pattern breakout.

U.S. workers’ filings for unemployment benefits fell for the fourth straight week last week, a sign of continued tightness in the labor market.

Litecoin [LTC] experienced some selling pressure at the start of the week as the bears took over market dominance. The resulting downside has subsequently pushed LTC towards its August support level, thus entering an uncertainty zone.

Bitcoin (BTC) provided a long awaited breakout into Sept. 7 as BTC price action dashed bulls’ hopes of a recovery.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

crypto tokens as traded in a narrow band around $20,000the entire week, the longest stretch that it has dipped under that level since the market was rocked by turmoil in July. Investors continue to debate the implications of rising borrowing rates for riskier assets after the Fed Chair's hawkish commentary. Bitcoin is down roughly 60% this year and some other tokens have lost even more. Other cryptocurrencies including Polkadot and Dogecoin also declined. However, Ether was surging in anticipation of a groundbreaking software upgrade to its blockchain. Here's a weekly roundup of all the noteworthy stories from the crypto space:1. Meta rolls out NFT feature on Instagram and Facebook Users of Instagram and Facebook can now display their NFTs on the platform, according to a recent announcement from Meta.

Data from digital asset management firm Coinshares showed that outflows from cryptocurrency investment products reached $9.2 million last week, with the majority of inflows coming from short investment products.

Bitcoin (BTC) starts the second week of September still trying to cement $20,000 as support as bears clinch control.

The decline in the United States equities markets last week extended the market-wide losing streak to three consecutive weeks. The Nasdaq Composite fell for six days in a row for the first time since 2019. The markets negative reaction to a seemingly positive August jobs report suggests that traders are nervous about the Federal Reserve’s future steps and its effects on the economy.

Tuesday

The EOS cryptocurrency has been one of the more interesting performers in August. It enjoyed a strong rally ahead of its rebranding but has since then let go of most of the gains in the last 10 days.

NEAR Protocol has been experiencing a sharp change in fortunes. The social activity on NEAR Protocol has been a glaring indication of rising activity.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

The Labor Department’s July report on job openings, quitting, hiring and layoffs could offer more clues on the trajectory of the U.S. labor market. 

Binance‘s native token has struggled to maintain an upward trajectory in 2022. On 29 August, BNB declined sharply below $288 and tested the $275 support zone on CoinMarketCap. Bears have taken control of the price action, but can the ecosystem stay alert regardless of distraction?

crypto prices dropped on an average of 12%. This sudden drop pushed the global crypto market to its lowest point in the month of August. For the first two weeks, the market rose for about 4-5%, which is not so great but still gave a sign of relief to investors, but this sudden drop could turn out to be fatal. By the end of the week, on Sunday, the market stabilized a little bit, but the losses over the weekend still stood up high and the day ended without getting bullish. Over the analysis of the International exchange books, the buy-side is thin. This phase of the market cannot turn around in just a few days with such conditions. As expected, Monday was also served by a weak market. During the day, about one-third of the coins in the Top 100 gained around 1-2% whereas, coins and tokens based on metaverse and attention on browser lost around 5% in their prices.