Bitcoin price finally breakout above the $16.5 level today after struggling near the level for many days. The BTC price hit a high of $17,021, rising almost 3% in the last 24 hours. While on-chain data and crypto analysts expect Bitcoin to record more gains, resistance remains much stronger at $18k.

Moreover, Fed Chair Jerome Powell’s speech to impact the markets today as a hawkish stance could mean pushing the economy into recession. Experts believe the Federal Reserve to continue rate hikes to take inflation in 2023.

(by Varinder Singh)