The $BTCUSD price moved solidly above the resistance point at 24,000 as sentiment in the market improved.
Enter your emailThe pair will likely have a bullish breakout this week as investors target the next key resistance point at 26,000.Timeline: 1-2 days.BTC/USD priceIt rose to a high of 24,955, which was the highest level since June 13th of this year, meaning that it has recovered by about 40% from its lowest level this year.The BTC/USD pair continued its recovery as investors focused on corporate earnings and the falling American consumer and producer inflation.
These numbers showed that the Federal Reserve will likely slow its rate hiking cycle in the coming months. Still, most Fed officials who have talked after the data came out insisted that the bank will likely continue tightening in the coming months. They noted that inflation remains substantially above the Fed’s target of 2.0%.
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