Bitcoin edges higher as U.S. stocks recover from big early losses (headline)
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Markets are reassessing the certainty of one or more Fed rate hikes this year.
Bitcoin is slightly lower on Friday, down 0.5%, broadly in line with recent historical trends. According to Velo data, Fridays have averaged a modest 0.2% decline over the past three months as bitcoin is currently trading around $60,000.
Looking ahead to the weekend, history points to a more positive backdrop. Both Saturdays and Sundays have, on average, delivered positive returns. Even more notably, over the past month, since CME Bitcoin futures began trading on weekends, Bitcoin's only positive daily returns have come on Saturdays and Sundays, while every weekday has closed in the red.
#BTC $BTC
Details
Markets are reassessing the certainty of one or more Fed rate hikes this year.
Bitcoin is slightly lower on Friday, down 0.5%, broadly in line with recent historical trends. According to Velo data, Fridays have averaged a modest 0.2% decline over the past three months as bitcoin is currently trading around $60,000.
Looking ahead to the weekend, history points to a more positive backdrop. Both Saturdays and Sundays have, on average, delivered positive returns. Even more notably, over the past month, since CME Bitcoin futures began trading on weekends, Bitcoin's only positive daily returns have come on Saturdays and Sundays, while every weekday has closed in the red.
#BTC $BTC