BTC Hits New Month-to-Date Highs, Surging Above $27,000, Despite Caution on Open Interest and Strong Dollar
Summary:
Bitcoin (BTC) surges to new month-to-date highs, breaking $27,000 for the first time in September. Market participants cautiously monitor the increasing open interest and urge bulls to reclaim higher levels. Despite the strength of the US dollar index (DXY), Bitcoin shows no signs of weakness. However, this article does not provide investment advice.
Bitcoin (BTC) reached new highs for the month on September 18, as a strong weekly close signaled a bullish start to Wall Street trading. The price of BTC increased by over 3% for the day, breaking the $27,000 barrier for the first time in September. Market participants observed momentum returning among Bitcoin bulls and noted that it could be a good time to buy assets. However, caution was expressed regarding the surge in Bitcoin open interest, which could potentially lead to a retracement if spot bids disappear. Traders emphasized the need for bulls to reclaim higher levels and hold them into the September monthly close. Despite the strength of the US dollar index (DXY), Bitcoin showed no signs of weakness and continued to rise. It is worth noting that this article does not provide investment advice or recommendations.
Published At
9/18/2023 12:51:22 PM
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