Bitcoin (BTC) sees strong bullish support at the $17,000 level ahead of a critical week of macro data.
A year in which the global economy was active has passed. The global economy, which was worn out by the effects of factors and diseases, entered the recovery process with the effect of the tightening. But on the other hand, the bells of recession also began to ring harshly. It was noteworthy that the USA started an anti-inflationary struggle and increased interest rates. This situation caused the crypto industry to have a difficult time as well. The turmoil created by the bad scenarios, combined with the consequences of the global economy, resulted in a heavy crypto bear market. The eyes were turned to the fact that the USA would make policy decisions based on inflation data. Against this situation, Bitcoin is firmly holding the $17,000 level.
Bitcoin Moves Around 17K Dollars
Ahead of an eventful week, Bitcoin (BTC) price consolidated the $17,000 level. The closing of the markets created a calm on the crypto side as well.
In the crypto industry, attention is turned to the US activity, which will begin on December 13. US CPI and PPI data signaled that inflation will begin to decline. In the face of this situation, it was claimed that the decision to increase the interest rates by the USA would also initiate the recession process. This entire process has reflected a calm dynamism to the crypto industry, which has been portrayed as risky investment assets.
Eight company owner and investor Michael van de Poppe stated that he believes the markets will start to recover. Also, the analyst suggested that the Federal Open Market Committee (FOMC) will slow down.
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