On November 23, trading in the BTC/USDt pair ended with growth

On Tuesday, November 23, trading in the BTC/USDt pair ended in growth. Bitcoin has risen in price against the US dollar by 2.3%, to $ 57,541. During the European session, the bears pushed the price south again to $ 55,317. Buyers intercepted this movement and brought the asset to over $ 58,000. The jump was short-lived. After pulling back to 55,944, Bitcoin continued to hop around $ 57,800. Ether feels better as it is bought with Bitcoin. The ETH/USDt pair rose 6.20% to $ 4,339.

The cue ball remains trading in the 9% range with a downward slope. The cryptocurrency is under pressure due to the dollar rally. On Wednesday, the dollar index (DXY) updated its annual high on the back of weak statistics in Germany. The DXY index consists of 57.6% of the EUR/USD pair. The euro is weakening, the dollar index is growing. The dollar has risen in price since September 2020 on expectations of QE curtailment, and now on expectations of a rate hike in the first half of the year.

Additional pressure on the cryptocurrency market comes from India. The country's government introduced the cryptocurrency law to parliament yesterday for discussion. Some investors in a panic began to sell cryptocurrency. In the description of the bill, the bulletin says that it "aims to ban all private cryptocurrencies in India, but allows certain exceptions to promote the technology underlying cryptocurrency and its use." The definition of private cryptocurrencies and the content of the bill are not known.

A block of macrostats in the US is scheduled for today (16:30 GMT +3). At this time, a surge in volatility is expected in the currency and stock markets. The crypto market will catch on if the statistics cause sharp fluctuations in the dollar. The trading range for today is $ 53,950-59110.

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