Market Updates

The FED announced that interest rates will maintain between 5.25% to 5.5%, which has also reflected on the crypto market as it has moved in a very slow horizontal direction over the past week.

At the time of writing, BTC is trading at $68.2K, up 1.42% in the last 24 hours. Similarly, ETH is trading at $3.7K, up 0.72% in the previous 24 hours.

The market is slowly gaining momentum again after the downward trends shortly following the halving. Given the positive spot Bitcoin ETF results of the last week, and movement across multiple projects within the space, Bitcoin broke through the $60K support level, reaching $66K at the end of this week. On the other hand, Ethereum is trading around the $3K level, which is located near the $2.8K support zone.

One week after the halving, Bitcoin has failed to continue on its $75K rally and has seen the price fall to 5% in the past week. Based on market conditions, analysts say the price could fall below $52K in the upcoming weeks or break through the $72K mark, indicating a move toward the anticipated all-time high of $120K.

Bitcoin's price recently experienced a corrective phase, resulting in a 9% decline to around $64K. Despite this, Bitcoin is supported by strong levels, which may prevent further drops caused by market sellers, leading up to the halving.

The recent fall in the price of Bitcoin below $70K has raised concerns among market participants who are unsure if the peak has been reached.

Bitcoin has marked a significant achievement by reaching an all-time high of $69K after 847 days, indicating a considerable surge in confidence in the cryptocurrency market.

Bitcoin has been experiencing a continuous upward momentum in its price over the past few weeks, surpassing multiple resistance levels. The price has surged towards the $52K resistance level following a rebound from $40K in early January.

Bitcoin surpassed $46K this Thursday, recovering from the $42K it has been hovering around in the past weeks.

Here is everything you need to know for the week of January 22nd to 26th