The Fed's warning of further rate increases pulled bitcoin lower, just after it passed $18K for the first time since early November. Even the glimpse of optimism offered hints of a shift, writes GWilliamsJr_CMT
in December, while leading into traditionally bearish January. Whether concerns about Binance are grounded in legitimacy or rooted in post-FTX fear could be clearer in coming weeks.
From a price-chart perspective, bitcoin’s roughly $17,900 level moves the asset into a “low volume node” region – possibly indicating the potential for quick price moves. Momentum for bitcoin has jumped 23% since Monday when using the Relative Strength Index as a proxy for measurement. The movement from 51 to 63 reflects an uptick in buying pressure while coinciding with an increase in volume.
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