Bitcoin rose over 4% on Monday on track for the first profit in five days away from a week low at $80,000 after marking the worst weekly performance this year as traders were disappointed by US reserve plans.
Current gains are underpinned by Wall Street’s rebound from recent five-month lows amid hopes for a Fed rate cut in the first half of the year.
The Price
Bitcoin rose 4% at Bitstamp today to $84,007, with a session-low at $80077.
On Sunday, bitcoin dropped 6.4% at Bitstamp, the fourth loss in a row, plumbing a week trough at $80,000.
Last week, bitcoin swooned 14.5%, the second weekly loss in a row and the heftiest since October 2024.
The losses intensified after the announcement of the disappointing US crypto strategic reserve plans.
Crypto Market Value
Crypto market value rallied over $75 billion on Monday to a total of $2.850 trillion.
Wall Street
US stock indices closed higher on Friday away from recent five-month lows, following somewhat weak labor data, which bolstered hopes for a Fed rate cut in the first half of the year.
Now traders await important US inflation data, expected to provide fresh pricing for the path ahead this year for US interest rates.
