China News by Thebittimes.Com

The Bitcoin market and altcoins are experiencing some profit-taking today, though the overall upward trend remains intact. Bitcoin has rebounded strongly from its August low of $49,000. However, historical data suggests that the recovery might not continue through September. According to CoinGlass, Bitcoin has averaged a 4.78% decline in September since 2013. Over the past seven years, Bitcoin has seen a positive monthly return only in 2023. However, investor interest in Bitcoin-related exchange-traded products (ETPs) remains strong. CoinShares’ latest report indicates that Bitcoin-related ETPs attracted $543 million in inflows last week. Daily cryptocurrency market performance. Source:  Coin360 The Bitcoin market has largely been stuck inside the $55,724 to $73,777 range for several months, indicating a tough battle between the bulls and the bears for supremacy. The longer the time spent inside the range, the greater the force needed for the price to ...

The US dollar Index (DXY) might crash to the 96-97 range during the end of this quarter in March 2024. Local currencies are most likely to rise in the coming months denting the prospects of the US dollar. The DXY index, which gauges the US dollar’s strength against six leading currencies was down 0.25% on Monday. The US dollar is hovering around the 103.8 mark after briefly rising from 102 points early this month. However, the index is dangerously low and close to dipping below the 100 mark. Also Read: BRICS: China Stockpiling 1.39 Million Barrels of Oil Every Day US Dollar Could Crash Towards 96-97 Level in March 2024, Predicts Currency Analyst Source: iStock Leading currency and forex analyst Abhilash Koikkara predicts that the US dollar could fall to the 96-97 level in March 2024. The sharp decline could come after the labor market tightens leading to the erosion of the DXY index. Also Read: BRICS: Chinese Yuan Beats US Dollar as Top Traded Currency in Russia The...