{"id":552235,"date":"2023-02-15T18:55:54","date_gmt":"2023-02-15T15:55:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-eyes-23k-despite-us-dollar-strength-hitting-6-week-high\/"},"modified":"2023-02-15T18:55:54","modified_gmt":"2023-02-15T15:55:54","slug":"bitcoin-price-eyes-23k-despite-us-dollar-strength-hitting-6-week-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-eyes-23k-despite-us-dollar-strength-hitting-6-week-high\/","title":{"rendered":"# Bitcoin price eyes $23K despite US dollar strength hitting 6-week high"},"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-6a3c58501a3e1\" 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-6a3c58501a3e1\" 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-price-eyes-23k-despite-us-dollar-strength-hitting-6-week-high\/#%E2%80%9D_Bitcoin_price_eyes_23K_despite_US_dollar_strength_hitting_6-week_high_%E2%80%9C\" >&#8221; Bitcoin price eyes $23K despite US dollar strength hitting 6-week high &#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-price-eyes-23k-despite-us-dollar-strength-hitting-6-week-high\/#BTC_price_aims_for_23000\" >BTC price aims for $23,000<\/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-price-eyes-23k-despite-us-dollar-strength-hitting-6-week-high\/#DXY_surge_may_see_%E2%80%9Ctighter_financial_conditions%E2%80%9D\" >DXY surge may see &#8220;tighter financial conditions&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_eyes_23K_despite_US_dollar_strength_hitting_6-week_high_%E2%80%9C\"><\/span>&#8221; Bitcoin price eyes $23K despite US dollar strength hitting 6-week high &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-71a7a826>Bitcoin (BTC) hit its highest in almost a week on Feb. 15 as &#8220;extremely positive&#8221; economic data boosted risk asset sentiment.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/b98c17ce-c886-4a5b-ba5e-efd24dd6de14.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=\"BTC_price_aims_for_23000\"><\/span>BTC price aims for $23,000<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 gaining 2.2% on the day to eye a reclaim of $23,000.<\/p>\n<p>Analysts were already predicting volatility, with the latest economic numbers from the United States delivering a pleasant surprise.<\/p>\n<p>Retail sales and the Empire State Manufacturing Index both surpassed market expectations, showing a more resilient economy despite restrictive policy at the Federal Reserve.<\/p>\n<p>&#8220;Extremely positive numbers. Core Retail Sales and Retail Sales both smash expectations, while also Manufacturing Index more positive than expected,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1625859721818415105\">reacted<\/a>. <\/p>\n<blockquote><p>&#8220;The relief rally will continue, as it seems.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1625859721818415105\"><\/a>&#8220;<\/p><\/blockquote>\n<p>The figures followed the Consumer Price Index (CPI) print for January, which came practically in-line with expectations and provided only limited volatility as a result.<\/p>\n<p>Bitcoin made a much bigger statement on the day, however, causing some to rethink their short-term perspective on the market.<\/p>\n<p>&#8220;I was cleary wrong today with my expectations on lower TF, expecting some correction first. As mentioned: a reclaim of $22,3k is bullish to me and opens the road to 25k imo,&#8221; popular trader Crypto Ed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1625833106006482944\">acknowledged<\/a>\u00a0in part of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> comments.<\/p>\n<p>Fellow trader Skew meanwhile eyed $22,500 as an important zone for bulls to reclaim next.<\/p>\n<p>&#8220;$22.5K was strong support &amp; price consolidated above for 19days; reclaiming this level would be pretty bullish for BTC,&#8221; an update on the 4-hour chart <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/52kskew\/status\/1625826935740956677\">read<\/a>.<\/p>\n<blockquote><p>&#8220;Else failure will result in price testing the breakout consolidation.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/d0c8925b-1315-4331-b3ba-f7cf5e2d07d5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Skew\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"DXY_surge_may_see_%E2%80%9Ctighter_financial_conditions%E2%80%9D\"><\/span>DXY surge may see &#8220;tighter financial conditions&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>U.S. equities were biding their time at the time of writing, meanwhile, with the S&amp;P 500 still down 0.5% on the day.<\/p>\n<p><strong><em>Related:\u00a0First weekly death cross ever \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>The Nasdaq Composite Index gained a modest 0.7%, while the much-watched U.S. dollar index (DXY) crossed the 104 mark for the first time since Jan. 6 in a warning to risk assets.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/f09fe30b-10c4-45e1-b8ec-b6a4ae2b15d7.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>&#8220;i&#8217;d still be cautious around here. Keeping open mind of things&#8230;both btc and eth below jan high still. &#8230;dxy pushing up. wouldnt get too optimistic just yet,&#8221; TraderSZ thus <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/trader1sz\/status\/1625839993691185152\">argued<\/a> about the outlook for major cryptoassets.<\/p>\n<p>Investor Michael J. Kramer meanwhile predicted a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to 106 for DXY, along with &#8220;tighter financial conditions&#8221; in what could end up a recipe for defeat for the crypto rebound.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24dxy&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$dxy<\/a> trying to break out, next stop could be 106 and tighter financial conditions along with it. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pQNRzbhsW4\">pic.twitter.com\/pQNRzbhsW4<\/a><\/p>\n<p>\u2014 Michael J. Kramer (@MichaelMOTTCM) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MichaelMOTTCM\/status\/1625842711394717697?ref_src=twsrc%5Etfw\">February 15, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;For all the grave stomping on the dollar, the DXY is trading above the 2022 daily close. Interesting&#8230;,&#8221; Caleb Franzen, senior market analyst at Cubic Analytics, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CalebFranzen\/status\/1625867957636108288\">added<\/a>.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CalebFranzen\/status\/1625867957636108288\"><\/a><\/p>\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<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-price-eyes-23k-despite-us-dollar-strength-hitting-6-week-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price eyes $23K despite US dollar strength hitting 6-week high &#8220; Bitcoin (BTC) hit its highest in almost a week on Feb. 15 as &#8220;extremely positive&#8221; economic data boosted risk asset sentiment. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price aims for $23,000 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD gaining&#8230;<\/p>\n","protected":false},"author":1,"featured_media":552236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/5f27320d-0463-435e-98ec-550cb1e822fa.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,76153,73785],"class_list":["post-552235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-dollar","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/552235","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=552235"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/552235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/552236"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=552235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=552235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=552235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}