Despite recording small profits over the past few days, Bitcoin has been unable to break above its current range. As the macroeconomic landscape changes, the number one cryptocurrency has been stuck but could see new yearly highs in the coming months.
As of this writing, Bitcoin trades at $27,100 with a 1% profit in the last 24 hours. Over the last week, the number one cryptocurrency by market capitalization has recorded a 2% profit. Other cryptocurrencies in the top 10 by market cap have seen similar performance.
To Cut Or To Raise, The Fed Dilemma That Will Benefit Bitcoin
According to an essay from BitMEX founder Arthur Hayes, the U.S. banking crisis and macroeconomic uncertainty failed to push Bitcoin upwards. Hayes has been expecting aggressive upward price action for BTC in 2023, but the cryptocurrency has deviated from…
