Dear Readers,
The Crypto Rally creates all of us the delightful moments and cheerful mood for all of us for the past one week!
With the positive datas from the Consumer Prices that were declared last week, there are high scopes that the inflation would be declining in January 2023. This would make the anticipation of the Federal Reserve to decrease the interest rate, the US Share markets are gaining for the six days in a row.
The US Consumer Price Index Report Shows U.S. Inflation At 6.5%. In a follow up rally, we could see the rallies in the crypto market too.
The global crypto market cap is $990.03 billion, a share rise by 9.49% from yesterday. It is to be noted that the overall market cap of the cryptos went up above $1 trillion for the first time since early November 2021. The actual reason behind this spectacular rally is the technical breakout. The fall in the US Dollar index – DXY below103 after a long time.
The Leaders of the Crypto Token, Bitcoin gained 23,34% in the past 7 days and currently trades at $ 20909 while Ethereum was up by 22.55% in the past 7 days and currently trades at $ 1551.62.
Bitcoin surged over $21,000 on Saturday amid optimism that it may have bottomed and inflation may have peaked.
Bitcoin had not been traded above $ 20,000 since November 8 after the complete collapse of FTX and by yesterday it marked its 11th straight day progressing and traded above $ 21000 .
With the Bitcoin successfully broken the major resistance levels below $ 20000, it created cheers from wide range of investors and all are hoping positively to have the sustained rally of the Crypto tokens.
Hope 2023 would bring and fulfil all cheers in the Crypto market!
