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BTC’s Price Is up as Market Anticipates Fed Interest Rate Hike

Published 2022-12-13, 01:46 a/m
© Reuters. BTC’s Price Is up as Market Anticipates Fed Interest Rate Hike

  • BTC’s price has risen 1.38% over the last 24 hours.

  • Data from Glassnode Alerts shows that the number of addresses holding 1+ BTC is at an ATH.

  • The market leader’s price is trading above the 4-hour 9 and 20 EMA lines.

The price of the crypto market leader, Bitcoin (BTC), has risen over the last 24 hours according to CoinMarketCap. At press time, BTC is trading at $17,187.00 after a 1.38% increase over the last 24 hours. This has also flipped its weekly performance into the positive as BTC is up 1.14% over the last 7 days now as well.

In related news, Glassnode Alerts, the blockchain intelligence platform, tweeted today that the number of BTC addresses holding one or more bitcoin has reached an all-time high (ATH) of 964,608. This accumulation could be one of the main driving forces in BTC’s positive price movement over the last 24 hours.

The daily trading volume for BTC suggests that a notable part of the accumulation happened in the past day as the volume for the last 24 hours currently stands at $17,487,910,416. This is a 2.21% increase compared to yesterday.

The post BTC’s Price Is up as Market Anticipates Fed Interest Rate Hike appeared first on Coin Edition.

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