Bitcoin – Overview from 04.09.2024

Financial and commodity markets analytics


Following the end of the holidays in the United States, key stock market indices showed a significant decrease. Against this backdrop, bitcoin also developed a downward momentum, updating the recent low around the mark of $56000. However, at the moment, unlike the US stock market indices, bitcoin quotes have recovered about 50% of the drop. The support zone still appears strong. Nevertheless, considering the economic indicators publications scheduled for this week, the risk of increased price volatility should be taken into account when planning transactions. The support in the range of $55000-56000 remains relevant. In case of growth, the movement may be directed to $60000, and if this level is overcome - to the area of the peak at the $64900 mark.