Bitcoin reaches more than two-week high despite hawkish Powell remarks;
The cryptocurrency BTCUSD traded as high as $43,300 on Tuesday, according to CoinDesk data. Bitcoin was trading around $42,754, up 3.7% over the past 24 hours early Tuesday New York time. Ether gained 2.5% over the past 24 hours to about $2992.The cryptocurrency BTCUSD traded as high as $43,300 on Tuesday, according to CoinDesk data. Bitcoin was trading around $42,754, up 3.7% over the past 24 hours early Tuesday New York time. Ether gained 2.5% over the past 24 hours to about $2992.
“A confirmed break above $42.5k opens the door to another resistance zone between $45.5k and $46k,” added Nicholas Cawley, strategist at forex platform DailyFX, in a Monday note to MarketWatch. On Monday, Jerome Powell repeated that the central bank could deliver interest rate increases of larger than 25 basis points each at future meetings if policy makers deem it necessary in their fight to control U.S. inflation which is running at a 40 year high in the wake of the coronavirus pandemic.
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