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.

Crypto markets moved lower in sync with other global risk assets as markets awaited minutes from the US FOMC yesterday. Bitcoin led a strong recovery in the markets post the release of the minutes. The minutes indicated the need for more rate hikes in the near future.

Bitcoin tested lows of $23,600 yesterday before recovering to close the day above $24,000. Markets were bid early today and the cryptocurrrency made highs of $24,600. Bitcoin was consolidating around the $24,500 level at the time of publication.

Immediate support for the cryptocurrency is at $23,500, which is also near yesterday’s lows. Bitcoin will look to sustain a move above $25,000 on the upside.

The crypto market sold off yesterday and the global crypto market cap decreased by 2.78% to $1.10 Trillion. Major cryptocurrencies couldn’t breakout  psychological resistance levels and declined lower. Traditional markets witnessed a risk off move yesterday.

Bitcoin tried to breakout $25,000 level multiple times yesterday making highs of $25,288 before declining to lows of $24,153 and later consolidated losses to close the day at $24,454. The cryptocurrency slid below $24,000 during the early Asian hours and was trading higher at $24,120 at the time of writing. 

Immediate support for the cryptocurrency is at $23,500 while, on the upside resistance is at $25,500.

Major cryptocurrencies staged a recovery late on Friday which continued into the weekend as crypto markets shrugged off the risk-off sentiment in global markets. Having been correlated with global equities for most of recent times crypto markets have continued to outperform the equity market in the new year.

Bitcoin moved to highs of $25,200 yesterday – failing to break swing highs of $25,250 before cooling off. The cryptocurrency consolidated to close the week at $24,300. Bitcoin traded to lows of $23,850 to open the week before recovering to $24,400 at the time of publication.

The $25,000 handle is the nearest resistance for the cryptocurrency. We could see bids enter the market in a big way at $23,000.

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.

Crypto markets continued to recover yesterday as markets gained further clarity over the short term macroeconomic picture after the US CPI release. Although month on month inflation showed a substantial increase, crypto markets remained relatively risk-on while global equities were flat.

Bitcoin traded from lows of $21,550 yesterday to highs of $22,350 post data release. The cryptocurrency closed the day at $22,200 and was trading flat at the time of publication.

Although markets recovered yesterday, the near term bias remains bearish and we could see sellers emerging for Bitcoin at $22,500. We could see some bids in the market at $21,500.

Crypto markets continued to trend downward before staging a minor recovery late yesterday. Global equities were also higher as markets took a breather from the recent selloff. The release of the US CPI data later today and retail sales data tomorrow will drive the markets in the near term.

Bitcoin made lows of $21,360 yesterday before recovering to close the day around $21,800. Price action remained rangebound and the cryptocurrency was trading flat early today.

Immediate support for Bitcoin remains at $21,500. A move lower could see the cryptocurrency test the $20,500 level. $22,500 could see some offers on the upside.

Crypto markets consolidated over the weekend as markets took a breather from last week’s selloff. Bears appear to be in control of the near term price action as market participants look towards the release of the US CPI and and retail sales numbers to offer guidance on the macroeconomic front.

Bitcoin briefly traded below $21,500 on Friday before consolidating losses. The cryptocurrency traded above $22,000 before closing the week at $21,800. Bitcoin was trading flat at the time of publication.

Bitcoin bounced from its immediate support level at $21,500. If broken, we could see the cryptocurrency move towards $20,500. $22,500 is the nearest resistance on the upside.