Bitcoin was heading upwards on Friday in anticipation of closing another week in gains (including the weekend).
The BTC/USD exchange rate continued its upside momentum as it jumped $18,000, a psychological resistance level, all over again. At best, the pair wobbled between meager sell-off and buy-out attempts the entire day while maintaining a strong price floor around the said level.
Bitcoin remains unfazed by negative macro sentiments [for now]. Source: BTCUSD on TradingView.com Bitcoin remains unfazed by negative macro sentiments [for now]. Source: BTCUSD on TradingView.com
Its upside session appeared in contrast with a rather grim macroeconomic outlook. Traders in the US stock futures and gold markets turned choppier after the US Treasury Secretary Steven Mnuchin announced to close several emergency Federal Reserve lending programs.
Those facilities backed corporate credit and municipal-borrowing markets. But with Mr. Mnuchin’s decision—that economists believe came under the Republicans’ pressure—would remove about $455 billion that the Fed could have used to support the Main