Bitcoin BTC Bitcoinprice crypto Bitcoin price is back above $17k following dovish comments from Fed Chair Powell
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Data from TradingView shows that Bitcoin also benefited from the dovish comments from Powell which helped bulls lift the top crypto from a daily low of $16,696 to an intraday high of $17,158, a turnaround of 2.69%.The bullish outlook for BTC was spotted early in the day by Kitco senior technical analyst Jim Wyckoff, who noted that the Bitcoin-U.S. dollar price “hit a three-week high in early U.S. trading on Wednesday.
Additional insight into the state of the market following the speech from Powell was offered by Hunain Naseer, the head of content at COIN360. Naseer went on to highlight that following the speech, BTC surged above $17,000 while Ether tested resistance at $1,300 and the SPX climbed over 4,000, but offered a word of warning to overeager traders looking to dive back into the markets.
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