On the morning of January 15 rate of the first cryptocurrency came close to the resistance at the level of $40,000, but the "bulls" failed to overcome the pressure of the "bears" and the rate of BTC was reduced to $34,500.
Analysts believe that the growth of bitcoin is associated with the announcement of a new U.S. program of economic stimulus worth $ 1.9 trillion. BTC began to be sold after the bill faced criticism from U.S. politicians. In addition, the pressure of the "bears" could support the statement of ECB head Christine Lagarde that bitcoin is too speculative instrument and needs to be regulated.
Interestingly, not only the cryptocurrency market experienced pressure, but also traditional financial markets. The S&P 500 and NASDAQ indices fell 0.72% and 0.73%, respectively. Gold fell 1.07% and silver fell 3.17% at once. Oil also lost ground, down 2.93%.
The last week was quite volatile for bitcoin - the first cryptocurrency fell to $30,000 on January 11, but recovered to $40,000 during the week. During the correction, cryptocurrency derivatives exchanges liquidated positions worth $2.7 billion.