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Bitcoin derivatives data shows room for BTC price to move higher this week

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cointelegraph.com

This week Bitcoin (BTC) rallied to a 2023 high at $23,100 and the move followed a notable recovery in traditional markets, especially the tech-heavy Nasdaq Composite Index, which gained 2.9% on Jan.

20.Economic data continues to boost investors' hope that the United States Federal Reserve will reduce the pace and length of interest rate hikes.

For instance, sales of previously owned homes fell 1.5% in December, the 11th consecutive decline after high mortgage rates in the United States severely impacted demand.On Jan.

20, Google announced that 12,000 workers were laid off, more than 6% of its global workforce. The bad news continues to trigger buying activity on risk assets, but Dubravko Lakos-Bujas, chief U.S.

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