What to know:
- Ah, the price of bitcoin, that fickle mistress, has plummeted for five consecutive weekends. 🥴
- “This isn’t normal,” quipped an analyst, as if the crypto world ever adhered to the mundane. Weekend price action in 2024? More like a snooze fest! 😴
- And just when you thought a rally was brewing during the early U.S. trading hours on Friday, poof! It was snuffed out faster than a candle in a windstorm. 💨
Bitcoin (BTC), in a moment of sheer audacity, attempted a modest rally early in the U.S. trading session on Friday. But alas, the move was extinguished quicker than your enthusiasm for Monday mornings. Are the bulls lightening their positions ahead of the weekend? 🤷♂️
They could be forgiven for such trepidation.
In his Friday missive, Standard Chartered’s Geoff Kendrick lamented the fact that bitcoin’s price has now declined for five consecutive weekends (measured from 5 pm ET Friday to the same time on Sunday). A veritable tragedy in the world of digital currency! 🎭
Among the frightful specters haunting this timeframe were the DeepSeek AI news and the ever-looming Trump tariff threats. What a delightful cocktail of anxiety! 🍹
“This is not normal,” Kendrick reminded us, as if we needed reminding that the weekend price action for all of 2024 has been as lively as a sloth on a Sunday stroll. Mondays and Fridays, dear reader, are where the real drama unfolds! 🎭
Failed rally on Friday
Now, let us turn our gaze to the early Friday action, where bitcoin, in a moment of sheer bravado, managed to rally about 1.5% to $97,600 following the release of U.S. retail sales data for January. The number missed economist estimates by a mile, giving hope that rate cuts for the Federal Reserve might be back on the table in the first half of the year. Or perhaps just wishful thinking? 🤔
But lo and behold, the price has since returned to its previous resting place at $96,400, as if it were merely taking a leisurely stroll down memory lane. 🛤️
And for those trembling at the thought of the impending weekend: fear not! It’s a three-day affair in the U.S., with Monday off for Presidents’ Day. A perfect time for a little crypto contemplation! 🎉
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2025-02-14 20:05