Bitcoin (BTC) managed to put on a moderate rally in advance of the US trading session on Friday, but the move was quickly released. Do the bulls lighten up positions ahead of the weekend?
They can be forgiven for doing so.
In his note on Friday, Geoff Kendrick of the Standard Chartered said Bitcoin’s price has now refused for five consecutive weekends (measured from 5pm et Friday to the same time on the week).
Among the scares at that time were the news of Deptseek AI and Trump’s tariff threats.
“This is not normal,” reminds Kendrick, noticing that weekend price action for all 2024 tends to be mute, along Monday and Friday instead of time to pay attention to big moves.
Failed Rally on Friday
Early on the action of early Friday, Bitcoin managed to rally about 1.5% to $ 97,600 in a very short -term adherence to the release of US sale data for January. The number missed by the economist estimates by a mile, giving hope that the rate of deduction for the Federal Reserve may return to the table in the first half of the year.
The price has since returned to almost where it was preceded by printing at $ 96,400.
An extra thinking for those who are afraid about the coming weekend: it is three days in the US, which is Monday for the President’s Day.
