Bitcoin Trend Indicator is trending upwards as the CoinDesk 20 Index rallies to 1650 points
The CoinDesk 20 Index has recovered to 1,650, the digital asset market has returned to familiar levels seen prior to the launch of the Bitcoin Spot ETF, and the Bitcoin Trend Indicator (BTI) has re-established a significant uptrend.The BTI is an online tool created by CoinDesk Indices, a subsidiary of CoinDesk, and is designed to help investors determine the Bitcoin (BTC) price movement.
Markets are also shrugging off rising U.S. interest rates, with Friday's January jobs report showing 353,000 new jobs added, well above expectations of 170,000, and Federal Reserve Chairman Jerome Powell saying in a 60 Minutes interview over the weekend that "we're making good progress, but the task is not yet complete" on inflation, leading to a rise in the 10-year U.S. The yield on the US 10-year Treasury note rose to 4.1% from 3.9% in the previous few days, and the CoinDesk 20 index is also rising towards the 1,800 level, creating a bullish headwind.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Prothena 10% owner William P. Scully buys 27,000 shares for $255,739
GMR Solutions management to join fireside chat at Morgan Stanley Global Healthcare Conference
Fidelis Capital flags August market gains as hawkish Fed bets lift yields to decade highs
Yum Brands to participate in Barclays Global Consumer Conference webcast
Crypto prices
More
