Bitcoin Breakout Has Opened Doors to $25K- Check out the story here
Bitcoin's (BTC) January price rally has analysts focusing on higher valuations last seen in mid-2022.
The top cryptocurrency by market value has risen almost 40% to $23,000 this month, the steepest gain since October 2021, according to CoinDesk data.
A resistance level is the price where supply is expected to be strong enough to keep prices from moving higher.
Bitcoin's October bounce ran out of steam around $21,000, establishing that as a significant price
According to David Duong, head of institutional research at Coinbase, any rally toward $25,000 depends on traditional risk assets.
Traditional risk assets have regained poise in the past two trading days, with technology stocks leading the way higher on easing concerns of recession and a less aggressive U.S.
Investors are certain that the Fed will slow the pace of tightening to a 25 basis-point rate increase on Feb. 1.
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