Bitcoin ended a five-day losing streak on Friday, as the cryptocurrency appears to have found an interim price floor. This comes as traders continued to react to yesterday’s U.S. inflation report, which remained unchanged at 3.7%. Ethereum also edged marginally higher, following its own recent bear run.
Bitcoin
Bitcoin (BTC) snapped a five-day winless run on Friday, as markets continued to react to the latest inflation report in the United States.
Following a low of $26,558.32 during Thursday’s session, BTC/USD climbed to an intraday peak of $26,919.04 earlier today.
Overall, today’s rebound in price came after BTC collided with the $26,560 level, with bulls using this as a floor, for now.
Bitcoin chart by TradingView
It appears that the longer-term point of support is at $26,000, however with the relative strength index (RSI) failing to move below the 45.00 level, price has yet to hit this zone.
Currently, the index is tracking at 46.41, since failing to breach its floor at
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