Summary
The digital asset market has regained 1650 levels on the CoinDesk 20 Index, indicating a return to familiar levels before the launch of a bitcoin spot ETF. The Bitcoin Trend Indicator (BTI) has also shown a significant uptrend. The market has not been affected by the recent increase in U.S. interest rates or inflation concerns. The CoinDesk 20 is moving towards retesting the 1800 level and forming a bullish pennant.
Key Points
1. The digital asset market has regained 1650 levels on the CoinDesk 20 Index and has established a significant uptrend in the Bitcoin Trend Indicator (BTI).
2. The market has shrugged off the recent move higher in U.S. interest rates and remains unaffected by the January blowout jobs report and Jerome Powell’s 60 Minutes interview.
3. The CoinDesk 20 is making good progress towards retesting the 1800 level and forming a bullish pennant, indicating positive market movement.