Bitcoin and Ethereum (D1)
Bitcoin seems to be awakening. After several days of doom and gloom, and after a modest dip below $2,00022,000 Yesterday, the price accelerated its upward trend, reaching a peak of $80024,867It is at its highest point since mid-August 2022. At the moment, it is at $24585K level, BTCUSD Is up about 11.4% for 24 hours 7.3% Over a week. Ethereum is up 9% At $1682.
This rise in so-called risk assets seems to have no clear catalyst. Analysts have pointed to US data from recent years.. Tuesday’s inflation figures exceeded expectations, but still lagged the previous report. However, CPI and other US data from recent days did not significantly impact Fed policy expectations. US CPI was 6.4% annualized in January, compared 6.2% expected initially. Core CPI was 5.6% for the year, compared 5.5% expected.
The USDIndex At the 102 currently at the 103.6 level. Cryptos are resilient, and have not been affected by the strength of Dollar.
Riyad Carey is an analyst at Kaiko pointed to yesterday’s full price integration…