Federal Reserve may have to accelerate its withdrawal of monetary stimulus, perceived to be a negative for bitcoin.
On the inflation front, some investors speculated Biden might use his summit with Chinese President Xi Jinping to roll back some tariffs imposed under former President Donald Trump.
The RSI is currently neutral, which means a period of consolidation could persist this week.
“First Mover” hosts received insider analysis from CoinDesk Managing Editor for Technology Christie Harkin as Bitcoin’s taproot upgrade now that it was officially activated.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
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