{"id":690,"date":"2023-01-14T11:08:24","date_gmt":"2023-01-14T11:08:24","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=690"},"modified":"2023-01-27T15:45:55","modified_gmt":"2023-01-27T15:45:55","slug":"bitcoin-price-surges-to-21000-amid-bullish-momentum","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/","title":{"rendered":"Bitcoin Price Surges to $21,000 Amid Bullish Momentum"},"content":{"rendered":"\n<p>On Friday, Bitcoin (BTC) set a new all-time high of over $20,000, contributing to an upward trend. When compared to early November, the current price of bitcoin is unprecedented.<\/p>\n\n\n\n<p>After the news about the Consumer Price Index (CPI) caused a big rally in the crypto market, Bitcoin (BTC) is seeing an increase in bullish momentum. The asset&#8217;s price has decreased to around $20,901.78 as of writing; nevertheless, it still marks a 24-hour increase of 9.92%.<\/p>\n\n\n\n<p>In the days leading up to the release of the December Consumer Price Index report from the Federal Reserve, the price of BTC began to rise. <a href=\"https:\/\/www.cryptometer.io\/data\/coinbase_pro\/btc\/usd\">BTC\/USD<\/a> opened the week at $17,207 and has been steadily rising, reaching a yearly high of $21,095. The CPI report confirms that inflation in the United States has been slowing, which was in line with market forecasts.<\/p>\n\n\n\n<p>Bitcoin&#8217;s recent rise has prompted more people to wonder whether the price is in a fake-out or breakout mode.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is this just a bullish recovery in a depressed market?<\/strong><\/h3>\n\n\n\n<p>There are still obstacles in Bitcoin&#8217;s path, such as layoffs at cryptocurrency exchanges amid a worsening macro economy, <a href=\"https:\/\/www.cryptometer.io\/news\/gemini-exchange-and-genesis-are-charged-by-the-sec-for-offering-securities\/\">legal concerns at Gemini and Genesis<\/a>, and possibly forming a US House subcommittee focused on cryptocurrencies.<\/p>\n\n\n\n<p>Furthermore, Bitcoin&#8217;s relative strength index (RSI)&nbsp;indicates that BTC is currently overbought. RSI indicators suggest a possible steep downward trend when the price corrects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Friday, Bitcoin (BTC) set a new all-time high of over $20,000, contributing to an upward trend. When compared to early November, the current price of bitcoin is unprecedented. After the news about the Consumer Price Index (CPI) caused a big rally in the crypto market, Bitcoin (BTC) is seeing an increase in bullish momentum. [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":692,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,18],"tags":[34],"class_list":{"0":"post-690","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-market-updates","9":"tag-bitcoin"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin Price Surges to $21,000 Amid Bullish Momentum<\/title>\n<meta name=\"description\" content=\"On Friday, Bitcoin (BTC) set a new all-time high of over $20,000, contributing to an upward trend. 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When compared to early November, the current price of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoMeter.io\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-14T11:08:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-27T15:45:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"959\" \/>\n\t<meta property=\"og:image:height\" content=\"639\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Elijah Dokubo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Elijah Dokubo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/\"},\"author\":{\"name\":\"Elijah Dokubo\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/e27f1d2cc20e9f83c6fa2f0bf82e5156\"},\"headline\":\"Bitcoin Price Surges to $21,000 Amid Bullish Momentum\",\"datePublished\":\"2023-01-14T11:08:24+00:00\",\"dateModified\":\"2023-01-27T15:45:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/\"},\"wordCount\":233,\"publisher\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/bitcoin.jpg\",\"keywords\":[\"bitcoin\"],\"articleSection\":[\"Bitcoin\",\"Market Updates\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/\",\"url\":\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/\",\"name\":\"Bitcoin Price Surges to $21,000 Amid Bullish Momentum\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoin-price-surges-to-21000-amid-bullish-momentum\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/bitcoin.jpg\",\"datePublished\":\"2023-01-14T11:08:24+00:00\",\"dateModified\":\"2023-01-27T15:45:55+00:00\",\"description\":\"On Friday, Bitcoin (BTC) set a new all-time high of over $20,000, contributing to an upward trend. 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