{"id":536272,"date":"2023-01-06T18:36:41","date_gmt":"2023-01-06T15:36:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-yo-yos-on-us-macro-data-amid-call-for-btc-price-to-retest-17k\/"},"modified":"2023-01-06T18:36:41","modified_gmt":"2023-01-06T15:36:41","slug":"bitcoin-yo-yos-on-us-macro-data-amid-call-for-btc-price-to-retest-17k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-yo-yos-on-us-macro-data-amid-call-for-btc-price-to-retest-17k\/","title":{"rendered":"# Bitcoin yo-yos on US macro data amid call for BTC price to retest $17K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f7b2d55f11\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f7b2d55f11\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-yo-yos-on-us-macro-data-amid-call-for-btc-price-to-retest-17k\/#%E2%80%9D_Bitcoin_yo-yos_on_US_macro_data_amid_call_for_BTC_price_to_retest_17K_%E2%80%9C\" >&#8221; Bitcoin yo-yos on US macro data amid call for BTC price to retest $17K &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-yo-yos-on-us-macro-data-amid-call-for-btc-price-to-retest-17k\/#Analyst_BTC_price_in_line_for_17000_retest\" >Analyst: BTC price in line for $17,000 retest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-yo-yos-on-us-macro-data-amid-call-for-btc-price-to-retest-17k\/#CPI_bets_favor_Fed_pace_slackening\" >CPI bets favor Fed pace slackening<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_yo-yos_on_US_macro_data_amid_call_for_BTC_price_to_retest_17K_%E2%80%9C\"><\/span>&#8221; Bitcoin yo-yos on US macro data amid call for BTC price to retest $17K &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ed77c39>Bitcoin (BTC) flashed volatility at the Jan. 6 Wall Street open after fresh United States economic data dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed risk-asset bulls.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/100bc18c-dd9d-46a8-b22b-ef72edb096bb.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_BTC_price_in_line_for_17000_retest\"><\/span>Analyst: BTC price in line for $17,000 retest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed BTC\/USD dipping to $16,669 on Bitstamp around non-farm payrolls and unemployment figures.<\/p>\n<p>Both those came in better than expected, with mixed implications for the Federal Reserve having room for maneuver when it comes to its continued tightening of monetary policy.<\/p>\n<p>There may be some chance of relief for Bitcoin, crypto and the broader risk asset stage in the weeks and months to come, with interest rate hikes lessening in intensity.<\/p>\n<p>&#8220;Expecting a test of $17k,&#8221; on-chain analytics resource Material Indicators <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1611365333754957825\/photo\/1\">wrote<\/a> in part of a reaction on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a>.<\/p>\n<p>An accompanying chart presented the BTC\/USD order book on largest global exchange Binance, with both bid and ask liquidity inching higher.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/57c3a0ec-57ee-4a6e-a26e-853f34d9a5ee.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD order book data (Binance). Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Earlier, Cointelegraph had reported on the state of order book behavior showing continued ranging between $16,000 and $17,000 to be likely.<\/p>\n<p>&#8220;Market was ready for a hot number after yesterday\u2019s print, shorts unwinding after a quick impulse lower,&#8221; popular commentator Tedtalksmacro <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tedtalksmacro\/status\/1611359407417495552\">added<\/a> about non-farm payrolls.<\/p>\n<p>On unemployment, however, he was less positive, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tedtalksmacro\/status\/1611358555420098560\">arguing<\/a> that better-than-expected numbers may conversely embolden the Fed to continue a more restrictive approach.<\/p>\n<p>&#8220;Not what bulls want to see for now &#8211; unemployment ticking lower the sticking point imo \u2014&gt; feeding higher rates for longer narrative,&#8221; he tweeted.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CPI_bets_favor_Fed_pace_slackening\"><\/span>CPI bets favor Fed pace slackening<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond the U.S., inflation data from the European Union also boosted morale, showing a declining trend in the Consumer Price Index (CPI).<\/p>\n<p><strong>Related:\u00a0\u2018Big move brewing\u2019 for BTC price? Bitcoin may stay flat, hints analyst<\/strong><\/p>\n<p>&#8220;Euro CPI comes in at 9.2%, while 9.6% was forecasted. This drops to 0.9% in a month, meaning inflation is cooling off,&#8221; Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1611301857741135872\">responded<\/a>.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1611301857741135872\"><\/a><\/p>\n<p>The U.S. CPI print for December 2022 is due next week, with expectations for the subsequent Fed rate hike currently skewed towards 25 basis points, according to CME Group&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html?redirect=\/trading\/interest-rates\/countdown-to-fomc.html\">FedWatch Tool<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/5d72a27b-6219-42db-977b-aef9e52cdf46.png\"><figcaption style=\"text-align: center;\"><em>Fed target rate probabilities chart. Source: CME Group<\/em><\/figcaption><\/figure>\n<p>U.S. stocks inched higher on the day, with the S&amp;P 500 and Nasdaq Composite Index gaining 1% and 0.6%, respectively.<\/p>\n<p>The U.S. dollar index (DXY) fell in step, Its inverse correlation with crypto and stocks once again on display as it fell a full point to target 104.5 at the time of writing.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/38f322c6-25fd-4521-bc58-564de248d8a3.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-yo-yos-on-us-macro-data-amid-call-for-btc-price-to-retest-17k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin yo-yos on US macro data amid call for BTC price to retest $17K &#8220; Bitcoin (BTC) flashed volatility at the Jan. 6 Wall Street open after fresh United States economic data disappointed risk-asset bulls. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: BTC price in line for $17,000 retest Data from Cointelegraph Markets&#8230;<\/p>\n","protected":false},"author":1,"featured_media":536273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/5247d2f1-5e10-4d5c-9f7e-c5c07fc65ef8.jpeg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-536272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/536272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=536272"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/536272\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/536273"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=536272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=536272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=536272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}