Daily Crypto Market Update - 27.02.2023
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Daily Crypto Market Update - 27.02.2023
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About this listen
Crypto markets recovered over the weekend after selling off in reaction to the higher than expected PCE price index in the US on Friday. Global markets now seem to forecast a higher terminal USD interest rate with equities also joining crypto in moving lower while the US Dollar strenghthened.
Bitcoin traded briefly below the $23,000 handle over the weekend before recovering late on Sunday. The cryptocurrency closed the week at $23,550 and was trading flat at the time of publication.
Bitcoin should be supported at the $22,500 level. A move lower could see the cryptocurrency test February lows of $21,350. Bitcoin will look to move above $25,250 on the upside.
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