Bitcoin broke through the $ 19 000 level at night

On the evening of January 12, the bitcoin rate exceeded $ 19,000, which happened amid the publication of the Federal Reserve Commission’s (Fed) data on inflation in the United States. At the time of writing, the flagship asset is trading at $ 18,819.

The second-largest cryptocurrency by capitalization, ETH $3,339.96 Bridged Ether (StarkGate) -0.73% Market capitalization $0.28 billion VOL. 24 hours $1.9 billion , initially reached above $ 1430, but has now slipped back to $ 1407 (0.6% per day).

All assets from the top 10 also moved into the green zone. Polygon MATIC $0.54 Polygon 0.00% Market capitalization $1.26 billion VOL. 24 hours $0.00000000 is showing the biggest growth after bitcoin, up 3.1%. The global market capitalization is currently $ 941.9 billion.

Industry experts predicted the growth of cryptocurrency rates from the top 100 even before the publication of the US Federal Bureau of Statistics (BLS) report. In December, the core inflation rate decreased from 6% to 5.7% (with expectations of 5.8%).

According to CME FedWatch, the probability of a key rate increase at the next Federal Reserve meeting has increased by almost 94%. Prior to the announcement of the preliminary statistics, it was at 76.7%. Experts assume that the Fed will raise rates by another 25 basis points (or up to 4.75% per annum)

Cryptocurrency analysts emphasize that the current price level is extremely important for bitcoin. According to a trader at AlphaBTC, if the asset stays at $ 18,000, the cryptocurrency may rise to $ 20,000 in the future. If bitcoin fails to stabilize the current rate, the asset risks falling to $ 15,000.

As a reminder, in December 2022, bitcoin was trading below $ 18,000. The decline in the BTC exchange rate followed the Fed’s decision to raise the key policy rate range by 50 basis points to 4.25−4.5% per annum. By the way, this is the highest rate since 2007.