BTC price 3-week highs greet US CPI — 5 things to know in Bitcoin this week
Bitcoin charges above the $17,000 mark but misgivings remain among traders ahead of CPI, Fed comments and amid a brewing storm at Digital Currency Group. Bitcoin (BTC) starts a new week on a promising footing with BTC price action near one-month highs — can it last? In a new year’s boost to bulls, BTC/USD is currently surfing levels not seen since mid-December, with the weekly close providing cause for optimism. The move precedes a conspicuous macroeconomic week for crypto markets, with the December 2022 Consumer Price Index (CPI) print due from the United States. Jerome Powell, Chair of the Federal Reserve, will also deliver a speech on the economy, with inflation on everyone’s radar. Inside the crypto sphere, FTX contagion continues, with Digital Currency Group (DCG) at odds with institutional clients over its handling of solvency problems at subsidiary Genesis Trading. At the same time, under the hood, Bitcoin still shows signs of recovery from the FTX turmoil, with miners among th...