Bitcoin reaches new highs as Wall Street starts trading
Bitcoin (BTC) has hit new month-to-date highs on September 18, as a strong closing week on Wall Street has bolstered bullish sentiment.
Trader urges caution as Bitcoin open interest rises
The price of BTC saw a 3% gain on the day, surpassing $27,000 for the first time this month, according to data from Cointelegraph and TradingView.
With the opening of Wall Street trading, Bitcoin bulls are expecting a surge in momentum.
Altcoins waking up as Bitcoin breaks barriers
Michaël van de Poppe, founder and CEO of trading firm Eight, says Bitcoin's recent price breakthrough is a positive sign for altcoins. He advises investors to take advantage of the current market conditions to buy assets.
Resistance levels crucial for Bitcoin's next move
Van de Poppe posted an analytics chart on X (formerly Twitter) that shows the key resistance level Bitcoin needs to surpass for a sustainable uptrend. Meanwhile, Material Indicators reported daily buy signals on its trading instruments.
Another trader, Daan Crypto Trades, warns of increasing open interest, pointing out that levels are similar to those seen after Grayscale's legal victory. Rekt Capital, a trader and analyst, emphasizes the importance of Bitcoin bulls reclaiming higher levels and maintaining them until the end of September.
Bitcoin remains unaffected by DXY strength
Although the U.S. Dollar Index (DXY) is showing strength ahead of the Federal Reserve's interest rate decision on September 20, Bitcoin is not displaying any signs of weakness. This is notable as Bitcoin has traditionally been inversely correlated to the DXY.
James Straten, research and data analyst at CryptoSlate, highlights Bitcoin's resilience despite the DXY's rise above 105.
This article does not offer investment advice or recommendations. Readers should conduct their own research and consider the risks before making any investment or trading decisions.
