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BTC price weakness shows as Bitcoin analysts debate the likelihood of a return toward $20,000. Bitcoin (BTC) begins a key macro week in a weak place as 2023 BTC action begins to look like a “double top.” After a disappointing weekly close below $26,000, BTC/USD is struggling to catch a bid amid a return to low volatility. Analysts, already predicting downside, continue to forecast new local lows, and liquidity conditions are increasingly supporting their argument. Are there any silver linings on the horizon? One on-chain metric suggests that Bitcoin is “in the midst” of a major shakeout akin to March 2020. A rebound to “fair value” may also come courtesy of Bitcoin’s relative strength index (RSI), which has almost fully retraced its year-to-date gains to reach its lowest levels since the first week of January. Cointelegraph takes a look at these topics and more in the weekly rundown of key BTC price triggers. Weekly close makes BTC price double top a reality Bitcoin closing out the we...

On the latest episode of “Macro Markets,” Marcel Pechman explains the potential implications for crypto of the Federal Reserve losing $100 billion. On this week's episode of “Macro Markets,” Cointelegraph analyst Marcel Pechman delves into a thought-provoking discussion on the United States Federal Reserve’s financial woes. Pechman opens by highlighting how the Fed is grappling with staggering losses and emphasizes a fundamental macroeconomic principle: that overall wealth cannot be universally enhanced as demand for goods and services grows. This discrepancy underscores the challenges posed by inflation, real estate prices and the consequences of the Fed’s policies. Pechman concludes that the Fed is now paying the price for its loose monetary approach during the pandemic, prompting a grim outlook for the U.S. Treasury Department’s finances. Shifting gears, Pechman moves on to discuss European markets, with a spotlight on Novo Nordisk’s remarkable ascent. The Danish pharmaceutical...