First Mover Asia: Bitcoin Eclipses $17K, Breaking Out of Three-Week Trading Range

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Since mid-December, bitcoin had failed to finish a trading day (on a UTC basis) outside of the $16K-$17K range. Now analysts wonder if a market bottom has formed after a horrendous 2022. liqquidity reports.

) decisively pushed past $17,000 on Sunday, breaking out of its recent price range to hit a three-week high.on Friday after data suggesting that U.S. services businesses were slowing – seen by traders in both digital-asset and traditional markets as a sign that the Federal Reserve might soon be able to ease up on its push to tighten financial conditions. But it took a couple more days for bitcoin to cement the move past a threshold that had effectively capped any rallies since mid-December.

According to FundStrat's Sean Farrell, blockchain data suggests there are plenty of ready buyers with"appetite to buy BTC at the very specific level of $16,00-$17,200."

 

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Liqquidity I'm sure of it. We will see a recovery in the near future. That's why I buy bitcoin on bitfinex via ownr every day

Liqquidity It looks like the DeFi industry might have found a long-term bottom after the bearish market in early 2021. But DeFi should continue to grow and innovate, making it the top crypto asset class for years to come. Hodl On!

Liqquidity Well 80% to bottom would have been 13k. Did it get there?

Liqquidity startofbullrun spread the news

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