Bitcoin hits $16,000 on Nov 23 Exceeded. The market continued to react to the news that Coinbase held his 2 million bitcoins worth $39.9 billion. Centralized exchanges continue to face scrutiny after the demise of FTX, with many moving to provide evidence of their reserves. Ethereum also rose, with today’s token he is back at $1,200.
Bitcoin
Bitcoin (BTC) Market Boosted by News Coinbase Holds 2 Million BTCreserves as of the end of Q3.
Following Tuesday’s low of $15,820.29,BTC/USD climbed to an intraday high of $16,611.59 in today’s session.
The surge in price has pushedBTC off the recent low of $15,600, with the bulls now looking to target the $16,900 high.
chart, this rally is his 14-day Relative Strength Index (RSI) has broken through its own resistance at his 38.00.
At the time of writing, the index is tracking 39.58 and appears to be headed for the 41.00 resistance point.
Market sentiment remains bearish despite today’s rally, but momentum could start to shift once these upcoming hurdles are overcome.
Ethereum
BTC Similar to, Ethereum (ETH) also returned to the blue in today’s session Now the token is nearing the $1,200 mark.
ETH/USD peaked at $1,175.13 on Wednesday. This is within 24 hours of reaching the low of $1,096.66.
Today’s rally saw Ethereum surpass his $1,170 key resistance level, reaching its highest since Sunday in the process.
Since this collision, market uncertainty has increased and his The second largest token is trading below its previous high.
This is because his RSI has also hit a wall, with the index currently tracking 40.26, just below the 40.30 cap.
The bulls are likely targeting a re-entry into the $1,200 zone, but price strength needs to overcome this current obstacle first.
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