{"id":13793,"date":"2022-08-29T18:13:48","date_gmt":"2022-08-29T18:13:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-poised-above-20k-as-risk-on-assets-battle-pressure\/"},"modified":"2022-08-29T18:13:48","modified_gmt":"2022-08-29T18:13:48","slug":"bitcoin-poised-above-20k-as-risk-on-assets-battle-pressure","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-poised-above-20k-as-risk-on-assets-battle-pressure\/","title":{"rendered":"Bitcoin poised above $20K as risk-on assets battle pressure"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<ul>\n<li><em><strong>Bitcoin fell below $20,000 over the weekend amid selling pressure across equities and crypto.<\/strong><\/em><\/li>\n<li><em><strong>BTC price is back above the key level, with bulls currently battling bears around $20,245.<\/strong><\/em><\/li>\n<li><strong><em>The Bitcoin market is unfazed by the reported release of 140,000 Mt.Gox bitcoin to creditors.<\/em><\/strong><\/li>\n<\/ul>\n<p dir=\"ltr\">Bitcoin climbed back above $20,000 0n Monday following Friday\u2019s sell-off and ultimate breakdown to near $19,600 over the weekend.<\/p>\n<h2>Sell-off in stocks<\/h2>\n<p dir=\"ltr\">The picture on Wall Street, with US stocks also struggling with sell-off pressure since Powell\u2019s hawkish comments on Friday, does add to the overall bleakness.<\/p>\n<p dir=\"ltr\">After falling more than 3.3% on Friday, the S&amp;P 500 opened lower on Monday and is currently 0.6% down. The Dow Jones Industrial Average and Nasdaq are also in the red as the enchmark 10-year US Treasury yield climbs above 3%\u2019<\/p>\n<h2>Mt.Gox dump \u2018not happening\u2019<\/h2>\n<p dir=\"ltr\">As well as the broader dump across risk-on markets on the back of US Federal Reserve Jerome Powell\u2019s Jackson Hole blow, the Bitcoin market saw some negativity amid fear and uncertainty related to Mt.Gox news.<\/p>\n<p dir=\"ltr\">With anticipation of payouts for creditors of the defunct Bitcoin exchange rising as August draws to a close, fear of what a nearly 140,000 BTC dump would do to price gripped the crypto retail market. But the Rehabilitation Plan, <a href=\"https:\/\/www.mtgox.com\/img\/pdf\/20220706_announcement_en.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">announced<\/a> last month, will not come as a lump sum. Rather, it\u2019s going to be spread over several months.<\/p>\n<p dir=\"ltr\">Crypto analyst Michael van de Poppe commented that the payout should not scare traders, noting in a tweet:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING:<\/p>\n<p>Mt. Gox will not be releasing the <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>, and will delay the distribution, once again. <\/p>\n<p>The entire crypto space was stressing out heavily on this, but unwarranted.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1563904662092365824?ref_src=twsrc%5Etfw\">August 28, 2022<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">At the time of writing, BTC was trading at around $20,245. It\u2019s about 1.2% up in the past 24 hours.\u00a0<\/p>\n<p dir=\"ltr\">But while bulls are battling to keep the psychological support area, weakness across risky assets could still push the cryptocurrency towards intraday lows and possibly a retest of the $19,000 zone.<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-battles-for-20k-as-mt-gox-btc-dump-cloud-fades\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin fell below $20,000 over the weekend amid selling pressure across equities and crypto. BTC price is back above the key level, with bulls currently battling bears around $20,245. The Bitcoin market is unfazed by the reported release of 140,000 Mt.Gox bitcoin to [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":13794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13793"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=13793"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13794"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=13793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=13793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=13793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}