Bitcoin is rallying, taking the whole market on an upwards trajectory along with it.

Why? First and foremost, CPI data was good. In recent times, crypto has always followed tech stock when it comes to market movements and the better-than-expected CPI data certainly helped.

The FED is now expected to be a little less aggressive when it comes to interest rates and this, ultimately, is the good news.

Secondly, and this may be a little more on the romantic side of things, Bitcoin recently celebrated its 14th birthday yesterday (Jan 12).

Market analysis doesn't show any significant historical correlation between Bitcoin's price action and its birthday but I believe this will become a recurring theme in the future.

A lot of people expect Bitcoin to fail and every year that it doesn't, in the words of the great Kazakh thinker Borat, is "great success".

BTC is currently flirting with $19,000 at the time of writing, which would bring it back to pre-FTX fiasco pricing.

So what's next?

I personally expect more bad news in the coming months. The situation(s) with FTX, BlockFi, Gemini and Genesis will get worse before it can get better.

And no one what DA FUQ is gonna happen with Nexo.

Fingers crossed.