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Good morning, Bitcoin (BTC): market dawns with corrections; but analysts are still confident

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For analysts, the market presents healthy corrections after the highs of the last two days caused by the Federal Reserve (Image: Pixabay / IgorShubin)

While the traditional markets do not wake up, the Crypto Times come give Bitcoin a good day. Check out a brief summary of what could affect the market this Friday (2).

THE Bitcoin (BTC) returns about 1.5% this morning compared to the previous day, when the cryptocurrency reached $ 24,000 again. At the moment, the Bitcoin is quoted at US$23,500, showing strong resistance in the region of US$25,000.

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THE Ether (ETH) also corrects and is priced at $1,650. already the market value moves sideways and stands at US$ 1.09 trillion.

For analysts, the crypto market presents healthy corrections after the recent highs in the wake of events involving the Federal Reserve.

Fixes to climb higher

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Fernando Pereira, analyst and content manager at Bitget, says he believes that the worst is over in 2022. For him, the crypto market has already reached its bottom during the month of November, after all the disaster of FTX.

“If it weren’t for FTXthe bottom would have been found already in October, [com o bitcoin] close to US$ 18 thousand. The trend now is to have lighter falls and stronger highs for 2023”, he evaluates.

For Pereira, Bitcoin there may be a short-term pullback back to the $21,000 region to then pick up $25,000.

André Franco, chief analyst at Mercado Bitcoin, also believes that the fund has already been formed. Furthermore, he reckons that macro easing could push bitcoin to $30k in the near future.

According to him, in the on-chain data, another 4,000 bitcoins were added to the hands of long-term investors (LTH). On Ethereum, another 23k were locked in the Beacon Chain.

Given this, positive sentiment in the market prevails. The fear index remains at 60, out of a total of 100, a level that indicates optimism in the market.

Latest Crypto Fear & Greed Index

Source: Moneytimes

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