{"id":14515,"date":"2022-11-15T13:59:50","date_gmt":"2022-11-15T13:59:50","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-climbs-to-17000-as-weaker-usd-overshadows-sbfs-cryptic-tweets-market-updates-bitcoin-news\/"},"modified":"2022-11-15T13:59:50","modified_gmt":"2022-11-15T13:59:50","slug":"btc-climbs-to-17000-as-weaker-usd-overshadows-sbfs-cryptic-tweets-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-climbs-to-17000-as-weaker-usd-overshadows-sbfs-cryptic-tweets-market-updates-bitcoin-news\/","title":{"rendered":"BTC Climbs to $17,000 as Weaker USD Overshadows SBF’s Cryptic Tweets \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin was trading marginally higher on Nov. 15, as the U.S. dollar continued to weaken, dropping to multi-month lows versus several G7 currencies. The decline of the dollar overshadowed tweets from FTX\u2019s Sam Bankman-Fried, who cryptically tweeted \u201cWhat happened\u201d to his 1 million followers. <\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) rose back above $17,000 on Tuesday, as the U.S. dollar weakened on reports that the Federal Reserve could be set to pivot its hawkish policy.<\/p>\n

Following a low of $16,267.33, BTC<\/a>\/USD raced to an intraday high of $17,109.32 earlier in today\u2019s session.<\/p>\n

The weaker dollar was a catalyst for the move, as markets seemed to have ignored cryptic tweets<\/a> from Sam Bankman-Fried.<\/p>\n

\"Bitcoin,
BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, BTC<\/a> seems to have settled on a floor (for now) of $15,800, using this as a springboard to securing consecutive higher highs.<\/p>\n

BTC<\/a> has since moved back below $17,000, as the 14-day relative strength index (RSI) neared a key resistance level of 39.00.<\/p>\n

Bulls may face difficulty extending these recent gains, unless the index moves past this upcoming hurdle.<\/p>\n

Ethereum<\/h2>\n

In addition to bitcoin, ethereum (ETH<\/a>) also edged higher, with prices moving closer to the $1,300 region.<\/p>\n

ETH<\/a>\/USD surged to a peak of $1,284.22 on Tuesday, which comes less than 24 hours after trading at a bottom of $1,214.10.<\/p>\n

The world\u2019s second largest cryptocurrency has now risen for a second consecutive session, despite recent bearish sentiment.<\/p>\n

\"Bitcoin,
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Overall, market sentiment continues to remain bearish, with the 10-day (red), and 25-day (blue) moving averages still trending lower.<\/p>\n

Like with BTC<\/a> above, the RSI here is close to a ceiling of its own at 43.00, with traders beginning to vacate positions as a result.<\/p>\n

As of writing, ETH<\/a>\/USD is trading at $1,265.79, which is marginally below its earlier highs.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Is there still a possibility that ethereum will fall below $1,000 this week? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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