Bitcoin market dominance plumbs 4-year lows as BTC price ditches $20K

cointelegraph.com:

Bitcoin (BTC) traded below $20,000 on Sep. 3 as commodities declined on news of a G7 Russian energy ban.

Data from Cointelegraph Markets Pro and TradingView showed ongoing lackluster performance on BTC/USD, which traded around $19,800.

The largest cryptocurrency looked increasingly unable to flip $20,000 to firm support as the weekend began, and the mood among market participants was jaded.

Eyeing the 8-day exponential moving average (EMA), popular trader Cheds noted its strength as intraday resistance continuing into September.

$BTC if you are trading this and not watching daily EMA 8 you are literally asleep at the wheel. No excuses https://t.co/cTGEHWQNYo pic.twitter.com/WwMmwCLFO5

United States equities closed out a troublesome week, the S&P 500 down 2.7% and Nasdaq Composite Index 3.25%, respectively.

Oil prices fell in Europe on the announcement of a Russian price cap potentially taking shape at the end of the year, despite implications tied to price increases should Russia itself retaliate.

German Electricity and Gas prices keep crashing. Gas now €218/MWh, down 38% from ATH, 1y Power Price now €508/MWh, down 52% from ATH. pic.twitter.com/1pPK5vJoGE

Gas supplies to Europe likewise stopped following the price cap decision, allegedly due to technical difficulties, having previously been due to resume Sep. 3.

“Gazprom seems to imply here that the only operating turbine at Nord Stream 1 pipeline can only be repaired now at one of (overseas) Siemens Energy specialised workshops, and until that happens, the pipeline won’t re-start (in other words, it’s down for good),” Javier Blas, energy and commodities columnist at Bloomberg, commented on a statement from Russian energy giant Gazprom over gas transit downtime.

For Bitcoin bulls,