Bitcoin The stock market surge to a record three-week high on Jan. 9, as prices soared above the $17,000 mark. This hike came days before the US inflation numbers and traders reacted to the news. The Non-Farm Payrolls (NFP) report was also released last Friday. Ethereum also hit a multiweek high.
Bitcoin
Bitcoin BTC (BTC) surged above $17,000 at the beginning of the week, as markets focused on the US inflation report.
A small jump was seen as BTC/USD rose to $17,283.72 earlier today. This sent BTC to a peak it hasn’t seen since December 16, when the price was $17,525.
The chart shows that the 10-day moving median (red) has crossed its 25-day counterpart (blue). Additionally, the 14-day Relative Strength Index (RSI) has marginally exceeded its resistance level of 60.00. The index is at 60.46, with the next highest peak at the 63.00 region.
Ethereal
Like Bitcoin, Ethereum (ETH) rose to a multiweek high. Prices went up, surpassing a recent peak of $1,300. ETH/USD hit an intraday high today of $1324.01, 24 hours after trading at a low price of $1261.95.
The rally brought Ethereum to its highest point since mid-December, when the coin was trading at over $1,350.
