BTC hits 1-month high, as traders price in fall in U.S. inflation.
) rallied to a one-month high on Tuesday, as markets began to price in a fall in consumer prices in the United States./USD raced to an intraday peak of $17,457.30 earlier in today’s session.
This move saw the world’s largest cryptocurrency fly to its strongest point since November 11, when price was at a high of $17,645.As can be seen from the chart, today’s surge comes as the 14-day relative strength index moved beyond a ceiling of its own. The index climbed above a resistance level of 52.00 earlier in the day, and as of writing is tracking at 55.00.
Despite this afternoon’s report, we will likely see more volatility on Wednesday, as traders get ready for the upcoming U.S. Federal Reserve rate decision.
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