Daily review
- Capitalization of the crypto market: $0.956 trillion (-$8 billion);
- Dominance: BTC - 40.0%, ETH - 17.4%;
- Index of fear and greed: 23 (fear) against 26 the day before.
Bitcoin: On Thursday, October 6, Bitcoin fell 0.98% against the dollar to $19,961. Buyers had to retreat against the backdrop of a general strengthening of the dollar and falling US indices. The SP500 fell 1.16% and the Nasdaq fell 0.68%. The dollar rose on the back of rising yields on 10-year bonds ahead of the US jobs report. Indices rolled back after a significant increase observed at the beginning of the week. New comments by Minneapolis Fed President Neil Kashkari lowered estimates of the likelihood that the Fed will pause interest rate hikes or reduce the pace.
The BTC exchange rate fell slightly compared to the indices. Buyers are still set to continue the upward movement. Also, investors ignored the 8 package of EU sanctions. The EU authorities have introduced new restrictive measures against Russia, which may actually block Russians from accessing the use of crypto wallets on the largest cryptocurrency exchanges.
Focus on nonfarm payrolls in the US for September. If the report reflects weak data, then this could increase the belief that the Fed will be ready to slow down the pace of rate hikes, which will put pressure on the dollar and support for risky assets.
The BTC/USDt pair is trading at $19875. Bitcoin is under pressure amid a recovery in the dollar index and a decline in SP500 futures. High volatility is expected at 15:30 after the publication of statistics.