Bitcoin at its highest in a month
The 2023 optimism in the crypto money market has also moved to the new week. Markets rose in 7 days of the first 9 days of the new year.
Bitcoin surpassed the $17,000 level over the weekend, reaching a one-month high. In the morning hours, Bitcoin is priced in the $17,200 region, while Ethereum has crossed the $1300 region and the short-term outlook is positive. Cautious optimism remains.
Bitcoin at its highest in a month
The slowdown in wage increases after the non-farm employment data released on Friday had a positive impact on global markets. The US Wall Street indices realized a daily close of over 2%, marking the highest daily close of the last month. Optimism also carried over to the weekend, and with the positive news from China, we witnessed the rise of cryptocurrencies. The outlook for altcoins was much more positive than for major cryptocurrencies. Many cryptocurrencies have experienced a rise that they have not seen in a long time. Since Friday, Gala has increased by 70%, Ada by 25%, Sol by 30% and Mana by 25%, making its investors happy. We can expect the optimistic mood to continue in the narrow band range in the new week as well. The US consumer inflation data, which will be released on Wednesday, will be in the attention of the markets. The expectation is for inflation to recede from 7.1% to 6.5%.
Continuing to rise over the weekend, Bitcoin is priced at $ 17200 during the day. The daily close above the $17000 level, which is an important level, looks very positive. In the continuation of the rise, it will be important to make daily closes above $ 17250. Then, it can bring the rise to the $17880 levels. If there is a downside retracement below $17250, $17000 can be expected to act as the first support level. If it cannot hold this level, $16800 levels can be tested.
