On Thursday, December 2, at the end of the day, bitcoin fell by 1.23% to $56480. The price spent the day in the range of $55778-57368. For the fifth day, bitcoin has been spinning around the $57200 mark. Market participants took a wait-and-see attitude. While there is no important news for the cryptocurrency market, speculators are looking at the external background with one eye: the upcoming FOMC meeting, the appearance of a new strain of Omicron, the strengthening of the dollar against the background of the curtailment of the stimulating bond purchase program due to rising inflation, the growing tension between the US and China over Taiwan.
As for bitcoin, then you need to keep an eye on the Congress meeting (December 8), since the US authorities can spoil the reputation of cryptocurrencies. The head of the SEC, Gary Gensler, said that bitcoin threatens the banking system, so he wants to establish control over it.
On Friday, December 3, investors’ attention is focused on the US labor market report for November.
The data is important for the currency and stock markets, so this is the last report before the Federal Reserve meeting (December 14-15). While the BTC/USD pair is trading above $55700, the technical picture looks good for continued growth. A surge in volatility is expected from 16:30 to 18:00 Moscow time.