Daily Crypto Market Update - 20.02.2023
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Daily Crypto Market Update - 20.02.2023
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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.
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