Bitcoin's Weekend Woes: Five Straight Declines Spark Analyst Concern

Generado por agente de IACoin World
viernes, 14 de febrero de 2025, 11:52 am ET1 min de lectura
BTC--

Bitcoin, the world's leading cryptocurrency, has been grappling with a prolonged streak of negative weekend price performance. For the past five weekends, measured from 5 pm ET on Friday to the same time on Sunday, the price of bitcoin has declined. This unusual trend has caught the attention of analysts, who note that weekend price action in 2024 has typically been relatively subdued, with significant moves more likely to occur on Mondays and Fridays.

Geoff Kendrick, an analyst at Standard Chartered, pointed out this unusual pattern in his Friday note. He highlighted that the recent weekend declines in bitcoin's price have been accompanied by various scares, such as the DeepSeek AI news and Trump tariff threats. Kendrick emphasized that this is not a typical pattern for bitcoin's price action, as weekends have historically been periods of relative stability.

On Friday, bitcoin experienced a brief rally following the release of U.S. retail sales data for January. The data missed economist estimates, sparking hopes that the Federal Reserve might consider rate cuts in the first half of the year. However, the rally was short-lived, and the price of bitcoin quickly returned to its pre-print level of around $96,400.

As the weekend approaches, investors may be apprehensive about the potential for further price declines. However, it is worth noting that the upcoming weekend is a three-day weekend in the U.S., with Monday being a holiday for Presidents' Day. This could potentially impact trading volumes and price movements.

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