Feb 16, 2023

Bitcoin Reaches Six-Month Highs as Bulls Surge

Bitcoin (BTC) is on the rise on February 16th, as a combination of factors send the cryptocurrency to a six-month high. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD hit $24,895 on the day, its best since mid-August 2022.

The surge in Bitcoin’s price is due to a number of macroeconomic tailwinds, particularly from the United States, as well as an improving sentiment across risk assets. BTC/USD has gained almost 10% on February 15th and another 2% on February 16th, with altcoins following suit.

The gains come in a key week of US macroeconomic data prints, with a Consumer Price Index (CPI) that mostly conformed to expectations and data on retail sales and manufacturing numbers further boosting the outlook. With more data still to come, investors are waiting to see if the good news will continue and if it can sustain the latest innings of Bitcoin’s blistering 2023 comeback.

The US macro data has emboldened Bitcoin bulls, but the currency is also receiving support from a strengthening US dollar. Traditionally, the two assets have been negatively correlated, but they are both benefiting from the current climate, albeit for different reasons.

The short-term treasury yields have moved higher, resulting in capital flowing into the US, while Bitcoin is rising thanks to increasing worldwide liquidity. However, some traders are still nervous about how long this out-of-character status quo might continue.

Whales have been taking advantage of the situation and have been influencing the rally by laddering asks up to $28k and strengthening the bid and ask liquidity up and down the order book. If they clear $25k, they can exploit the upside illiquidity fast.

According to Cointelegraph contributor Michaël van de Poppe, corrections are relatively short-lived in an upwards trending market. If Bitcoin manages to break $25K, it could continue towards $30-35K.

The NFT space has seen tremendous growth in recent months, and the trend is set to continue. NFTs have become a popular way for artists, musicians, and other content creators to monetize their work, and with the rise of the Web3 space, more and more companies are turning to NFTs to promote their products and services.

As such, there is a growing demand for NFT marketing and promotion services, and this has led to the emergence of a number of NFT marketing agencies and web3 agencies. These agencies specialize in helping companies to create and sell NFTs, and they also provide services such as Twitter NFT marketing, NFT promotion, and NFT marketing strategy. These agencies can help companies to maximize the potential of their NFTs and ensure that they are reaching the right audiences.

In addition to the agencies, there are also a number of platforms and services that have been created to help companies to promote their NFTs. These platforms provide a range of features such as NFT marketplace listings, NFT analytics, and NFT promotion services. They also offer a range of tools to help companies to track and analyze the performance of their NFTs, as well as providing advice and guidance on how to maximize the potential of their NFTs.

The NFT space is set to continue to grow and evolve, and with the emergence of NFT marketing agencies and platforms, companies have access to a range of services and tools to help them to promote and monetize their NFTs. With the right guidance and strategy, companies can maximize the potential of their NFTs and ensure that they are reaching the right audiences.

Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.