Crypto alarm clock: strong start for Bitcoin, big test on Wednesday

The Bitcoin price has risen by more than 1 percent in the past 24 hours. With this, Bitcoin (BTC) trades at around 82,500 dollars and manages to hold its own very strongly in the 80,000 to 82,000 dollar zone. Around those prices, there seems to be a lot of support for Bitcoin.

We can safely say that Bitcoin has a strong start to the stock market week. After 9:00pm last night, the Bitcoin price fell back to almost 80,000 dollars. In the meantime, the digital currency is trading more than 2,000 dollars higher.

This seems to be the result, among other things, of the decreasing pressure from US bond yields. The 10-year interest rate on American government bonds fell from more than 5.3 percent to the current 5,069 percent in a few days.

The oil price still remains a threat to Bitcoin. Although it fell slightly today, the Brent oil price is still well above $100 per barrel. The American WTI oil is slightly below that with 97 dollars per barrel.

In terms of macroeconomic figures, it is not a special week. There is little chance that we will get figures from that angle that can steer the Bitcoin price in a certain direction.

That story is different when it comes to the quarterly figures. From that front, it is time for the figures from Tesla, Meta and IBM on Wednesday.

For example, the market has to process the figures of three major players in the tech world on Wednesday. In particular, the figures from Tesla and Meta can sometimes be decisive for the AI sector, and therefore also have a great influence on bond yields.

So it can be quite an exciting week for Bitcoin, which can determine a lot for the rest of the fourth quarter.