Crypto Market Grows and Bitcoin Breaks Above $18K

As a result of this small rally, around 13% of Bitcoin positions have returned to profitability, following strong recent accumulation.
Crypto Market Grows and Bitcoin Breaks Above $18K

January 12th, 2023 - Bitcoin has surpassed $18k in the last 24 hours with the expectation of better American inflation data to be released this morning. The market's rapid advance in the last week (BTC +8% and ETH +12%) may become a correction if the inflation numbers disappoint. As a result of this small rally, about 13% of Bitcoin positions have become profitable at the $18k price point, following a strong recent accumulation.

In mid-December, there was a similar movement, but it was frustrated by the Fed's still conservative speech. In parallel to this, the market's low liquidity has forced brokers like Huobi to delist 33 tokens that did not maintain at least $50k of daily volume. Another news with negative potential for altcoins would be the need for FTX to sell about $4.6bn in newly discovered cryptocurrencies by the company's new administrators, including large positions in the Solana (SOL) token.

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