February 8, 2023

Bitcoin’s Recent Rally Can Last. Traders Appear More Bullish Than Ever.

Bitcoin

and other cryptocurrencies moved higher Wednesday. After a roaring rally to start the year, cryptos are now mostly range-bound but key catalysts lie ahead and there is at least one sign that traders have more conviction than ever.

The price of Bitcoin has gained 1% over the past 24 hours to near $23,200, a price level around which it has been changing hands for much of the past few weeks. The largest digital asset has gained some 40% since the start of the year, marching back from near two-year lows notched after the collapse of crypto exchange FTX in November to trade around the highest levels since last summer.

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