Daily Crypto Market Update - 23.02.2023
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Daily Crypto Market Update - 23.02.2023
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Crypto markets moved lower in sync with other global risk assets as markets awaited minutes from the US FOMC yesterday. Bitcoin led a strong recovery in the markets post the release of the minutes. The minutes indicated the need for more rate hikes in the near future.
Bitcoin tested lows of $23,600 yesterday before recovering to close the day above $24,000. Markets were bid early today and the cryptocurrrency made highs of $24,600. Bitcoin was consolidating around the $24,500 level at the time of publication.
Immediate support for the cryptocurrency is at $23,500, which is also near yesterday's lows. Bitcoin will look to sustain a move above $25,000 on the upside.
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