Daily Crypto Market Update - 16.02.2023
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Daily Crypto Market Update - 16.02.2023
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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.
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