{"id":14945,"date":"2022-11-07T08:12:08","date_gmt":"2022-11-07T08:12:08","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/funding-rates-hit-6-month-high-before-cpi-5-things-to-know-in-bitcoin-this-week\/"},"modified":"2022-11-07T08:12:13","modified_gmt":"2022-11-07T08:12:13","slug":"funding-rates-hit-6-month-high-before-cpi-5-things-to-know-in-bitcoin-this-week","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/funding-rates-hit-6-month-high-before-cpi-5-things-to-know-in-bitcoin-this-week\/","title":{"rendered":"Funding rates hit 6-month high before CPI \u2014 5 things to know in Bitcoin this week"},"content":{"rendered":"
Bitcoin (BTC) starts the second week of November battling some familiar FUD \u2014 how will BTC price action react?<\/p>\n
The largest cryptocurrency managed a weekly close just below $21,000 on Nov. 6 \u2014 an impressive multi-week high \u2014 but remains fixed in a sticky trading range.<\/p>\n
Despite seeing highs of nearly $21,500 over the past week, there has yet to be a catalyst capable of breaking the market status quo, but the coming week has as good a chance as any of doing so. <\/p>\n
Nov. 10 will see key United States inflation data for October released, while jobless claims and multiple speeches from Federal Reserve officials may also impact risk asset volatility.<\/p>\n
An unexpected twist from within the crypto realm comes in the form of turmoil involving exchange FTX, Alameda Research and Binance.<\/p>\n
Concerns over liquidity have escalated as Binance CEO, Changpeng Zhao, reveals a plan to sell off his platform\u2019s entire stash of FTX\u2019s proprietary token, FTT.<\/p>\n
Bitcoin reacted in line with market sentiment overnight, but going forward, will the debacle prove any more than classic crypto FUD?<\/p>\n
Cointelegraph takes a look at some of the major factors set to influence BTC price action in the coming days.<\/p>\n
While falling into the weekly close, BTC\/USD still managed to post its highest such weekly candle close since mid-September.<\/p>\n
Data from Cointelegraph Markets Pro and TradingView shows the week to Nov. 6 being capped at $20,900 on Bitstamp.<\/p>\n