Daily Crypto Market Update - 16.02.2023
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Daily Crypto Market Update - 16.02.2023
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About this listen
Crypto markets surged late yesterday and early today as markets traded to highest levels seen in the last six months. The rally was largely based on the strength of a short squeeze after the release of the retail sales data in the US which came out much stronger than expected.
Bitcoin held the $22,000 level on the downside before zooming past the $24,000 level. The cryptocurrency made highs of $24,900 early today before consolidating to $24,700 at the time of publication.
Bitcoin drove the crypto market bus yesterday as it was the major mover. The cryptocurrency broke key resistance levels at $22,500 and then $24,200 and now will look to move past the $25,000 handle.
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