BTC continued its amazing start to 2023, surging to $23,500 last week. Bitcoin posted 14 consecutive winning days and nearly matched a 10-year record (15 winning days) last week.
This was followed by a minor correction before BTC rallied by 7.5% on Jan. 20. At the time of writing, Bitcoin trades at $22,685.
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Breakthrough or bull trap: the debate rages on among analysts and experts. Bloomberg Intelligence Senior Commodity Strategist Mike McGlone believes that recessionary macroeconomic conditions are still the ''primary headwind for Bitcoin.''
The bull trap sentiment has been echoed by several analysts, while others believe a bull flag breakout is incoming. Bitcoin's Fear and Greed Index stands at 50, at the time of writing.
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