The rally in stock indices and the weakening of the dollar allowed the price to exceed $17,000

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Daily Review

  • Crypto market capitalization: $0.861 trillion (+$9 billion);
  • Dominance: BTC - 38.3%, ETH - 18.3%;
  • Index of fear and greed: 27 (fear) against 29 the day before.

On Wednesday, November 30, Bitcoin trading ended with growth. The BTC/USDt pair rose 4.39% to $17,163. Investors got lucky. The rally in stock indices and the weakening of the dollar allowed the price to exceed $17,000.

The dollar index fell to 105.45 points after the speech of the head of the US Federal Reserve, J. Powell. He said that at the December meeting of the Central Bank may slow down the pace of rate hikes. According to the latest data from the CME FedWatch Tool, the probability of a 50bp rate hike is . increased to 79.4% against 66.3% a day earlier. This is his last speech before the December 14 meeting. The SP500 index rose by 3.11%, Nasdaq - by 4.41%.

On Thursday, December 1st, Bitcoin is worth $17,112. The price rose to the resistance of $17,150, which is desirable to pass today. The price pattern on the hourly chart indicates a downward correction to $16,895. The dollar index is trading in the red. If the S&P500 index continues its pre-New Year rally, then it is likely that we will see the BTC/USDt pair around $18,500 by Monday. This week, one of the most important statistics is the US labor market report for November.

Posted Using LeoFinance Beta



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