Connect with us

Published

on

Bitcoin looked like a stablecoin compared to the U.S. Dollar Index on Oct. 4, with BTC price levels of interest close to the spot price. 2447 Total views 17 Total shares Listen to article 0:00 Market Update Join us on social networksBitcoin (BTC) stayed glued to $27,500 at the Oct. 4 Wall Street open as attention continued to focus on rampant United States yields.BTC/USD 1-hour chart. Source: TradingViewAnalysis: $27,000 now key for BTC price

Data from Cointelegraph Markets Pro and TradingView showed a calm day for BTC price action while U.S. dollar volatility ruled.

After its own spate of hectic trading to start the week, Bitcoin was once more seeking direction, with market observers marking out key price points.

Popular trader Skew flagged market takers selling toward $27,600, lending importance to this price level reclaim.

Get that reclaim & decent pop will come, he predicted in part of an analysis on X (formerly Twitter) on Oct. 4.

$BTC
takers selling into $27.6K

adds importance to this price level reclaim

Get that reclaim & decent pop will come

note coinbase CVD (actual buyer led price into $27.6K) pic.twitter.com/Jr6MDb7ru1 Skew ? (@52kskew) October 4, 2023

Fellow trader Crypto Tony additionally highlighted $27,000 as the line in the sand to the downside.

$BTC / $USD – Update

Holding that $27,000 low, so i remain long for the time being and would be shorting if we lose this low here, or pump up and reject hard as suggested on chart below pic.twitter.com/bSDjWWaJEU Crypto Tony (@CryptoTony__) October 4, 2023

Updating his own trading strategy, meanwhile, trader Mark Cullen likewise emphasized $27,000 holding as support.

Bitcoin getting a reaction from its first attempt into my zone & a tap of the break out trendline, hestatedin accompanying commentary. Market conditions in Tradfi aren’t great so pressure’s down. Lets see if BTC can hold this area for a while longer, until other markets stabilize. Holding 27k is key for $BTC!BTC/USD annotated chart. Source: Mark Cullen/XBitcoin bides its time as dollar sees sharp retrace

As Cullen and others explained, the mood on legacy markets was decidedly less stable than Bitcoin on Oct. 4.

Related:Bitcoin analysts still predict a BTC price crash to $20K

This came thanks to U.S. 30-year bond yields surging to 16-year highs something which got commentators wary of a potential meltdown to come.

Skew suggested that this angst over how macro forces would play out was responsible for the lack of significant BTC trading volume.

Not much besides dipping toes in the water kind of bid other than that its perps mostly buying, another X post stated earlier.Market is likely trying to digest everything that is going on terms of risk parameters and exposure. Many are capitulating to cash imo under market distress.

U.S. dollar strength delivered upheaval of its own prior to the Wall Street open, with the U.S. Dollar Index (DXY) swiftly dropping from levels not seen since Q4 last year.

As has beencustomary in recent times, BTC/USD continued to shake off snap DXY moves.U.S. Dollar Index (DXY) 1-hour chart. Source: TradingView

Commenting on the situation, Sven Henrich, founder of NorthmanTrader, showed that long-term DXY chart performance was behaving as expected.

Amid all the chaos & volatility one amazingly consistent clean chart: The US dollar respecting the channel trend lines, he told X followers.Negative divergence on recent highs at top of the channel. What happens with this will likely be one of the key market drivers for the rest of the year.U.S. dollar index (DXY) chart. Source: Sven Henrich/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. # Bitcoin # Dollar # Bitcoin Price # Markets

Add reaction

Add reaction Read more How to use index funds and ETFs for passive crypto income Bitcoin ETFs: A $600B tipping point for crypto ETF filings changed the Bitcoin narrative overnight Ledger CEO

Continue Reading

Politics

112 crypto companies urge Senate to protect developers in market structure bill

Published

on

By

112 crypto companies urge Senate to protect developers in market structure bill

112 crypto companies urge Senate to protect developers in market structure bill

Coinbase, Kraken, Ripple, a16z and others pressed the Senate to add explicit protections for developers and non-custodial services in the market structure bill.

Continue Reading

World

Putin, Xi, and Kim set to unite at major military parade

Published

on

By

Putin, Xi, and Kim set to unite at major military parade

Kim Jong Un will join Xi Jinping and Vladimir Putin at a major military parade in Beijing next week, North Korean and Chinese state media have announced.

The dictator will make the rare trip abroad as China marks the 80th anniversary of the end of the Second World War.

Mr Putin’s presence had already been confirmed. He and Mr Kim will be among 26 foreign leaders at the event, with none expected from the US or Western Europe.

China, Russia, and North Korea are close allies. Beijing has long been Pyongyang’s biggest aid and trading partner, while Mr Kim has been providing the Russian president with troops for his war in Ukraine.

There are currently no details of exactly when and for how long Mr Kim will be in China. It’s set to be his first visit in some six years – before the pandemic.

Hong Lei, assistant foreign minister of China, said the country would “warmly welcome” Mr Kim and that “maintaining, consolidating, and developing” relations between the two countries’ governments was a priority.

North Korean leader Kim Jong Un in Pyongyang, North Korea, October 7, 2024. Pic: Reuters
Image:
North Korean leader Kim Jong Un in Pyongyang, North Korea, October 7, 2024. Pic: Reuters

Asked what message China was sending by hosting Mr Putin, Mr Lei said the Russian president’s attendance at commemorative events “further demonstrates the high level of the China-Russia comprehensive strategic partnership of coordination for a new era and declares the unity and solidarity between China and Russia”.

He added: “Facing an international landscape fraught with both change and turmoil, China and Russia, as founding members of the UN and permanent members of the Security Council, will continue to uphold the authority of the United Nations and international fairness and justice.”

It may not be the last of Mr Kim’s major global summits of the year, with Donald Trump having said earlier this week he fancies another meeting with the North Korean.

The pair had an unprecedented meeting during the US president’s first term, and he’s suggested they could reunite later this year.

Continue Reading

Technology

Microsoft fires two employees over breaking into its president’s office

Published

on

By

Microsoft fires two employees over breaking into its president’s office

Pro-Palestinian demonstrators hold banners and signs as they protest outside the Microsoft Build conference at the Seattle Convention Center in Seattle, Washington on May 19, 2025.

Jason Redmond | Afp | Getty Images

Microsoft on Thursday said that it had terminated two employees who broke into President Brad Smith’s office earlier this week.

The news comes after seven current and former Microsoft employees on Tuesday held a protest in the company’s building in Redmond, Washington, in opposition to the Israeli military’s alleged use of the company’s software as part of its invasion of Gaza.

The protesters, affiliated with the group No Azure for Apartheid, gained entry into Smith’s office and had demanded that Microsoft end its direct and indirect support to Israel.

In a post on Instagram, No Azure for Apartheid said Riki Fameli and Anna Hattle had been fired by the company.

“Two employees were terminated today following serious breaches of company policies and our code of conduct,” a Microsoft spokesperson said in a statement, noting unlawful break-ins at the executive offices.

“These incidents are inconsistent with the expectations we maintain for our employees. The company is continuing to investigate and is cooperating fully with law enforcement regarding these matters,” the statement added.

In the aftermath of the protests, Smith claimed that the protestors had blocked people out of the office, planted listening devices in the form of phones, and refused to leave until they were removed by police. 

No Azure For Apartheid defines itself as “a movement of Microsoft workers demanding that Microsoft end its direct and indirect complicity in Israeli apartheid and genocide.”

The Guardian earlier this month reported that the Israeli military had used Microsoft’s Azure cloud infrastructure to store the phone calls of Palestinians, leading the company to authorize a third-party investigation into whether its technology has been used in surveillance.

Smith said on Tuesday that the company would “investigate and get to the truth” of how services are being used. 

According to Smith, No Azure For Apartheid also mounted protests around the company’s campus last week, leading to 20 arrests in one day, with 16 having never worked at Microsoft. 

No Azure for Apartheid has held a series of actions this year, including at Microsoft’s Build developer conference and at a celebration of the company’s 50th anniversary. Bloomberg reported on Tuesday that a Microsoft director had reached out to the Federal Bureau of Investigation regarding the protests.

Microsoft’s actions come after tech giant Google fired 28 employees last year following a series of protests against labor conditions and the company’s contract with the Israeli government and military for cloud computing and artificial intelligence services. In that case, some employees had gained access to the office of Thomas Kurian, CEO of Google’s cloud unit.

— CNBC’s Jordan Novet contributed to this report. 

Continue Reading

Trending