Bitcoin spikes to $17,050 as analysts warn of a volatile end to 2022 Bitcoin BTC Bitcoinprice
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The major stock market indices narrowly managed to avoid a fifth straight day of losses thanks to the afternoon recovery which helped the S&P, Dow and Nasdaq all finish in the green, up 0.10%, 0.28% and 0.01%, respectively. This suggests that traders will continue to see “more choppy and sideways trading on the daily chart into the end of the year – barring any major fundamental shock to the marketplace,” Wyckoff concluded.
The highs were reached after the promising CPI figures were released, while the lows came in the days following the Federal Open Market Committee meeting where Fed Chair Powell delivered a hawkish message signaling further rate hikes. Bitcoin largely moved in lockstep with U.S. equities over the past week in response to these developments.
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