{"id":72454,"date":"2023-01-13T09:40:21","date_gmt":"2023-01-13T07:40:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72454"},"modified":"2025-09-08T15:19:12","modified_gmt":"2025-09-08T12:19:12","slug":"bitcoin-price-tests-above-19000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-tests-above-19000\/","title":{"rendered":"Bitcoin price tests above $19,000"},"content":{"rendered":"

Bitcoin rose above $19,000 on the evening of January 12 after the release of inflation data in the United States.<\/p>\n

At the time of writing, the price had retraced to around $18,800. The 24-hour rise stood at 3.9%, according to CoinGecko<\/a>.<\/p>\n

\"Bitcoin
Hourly chart of BTC\/USD on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

The second-largest cryptocurrency by market cap traded above $1,430, but has retraced to $1,408 (+0.9% over the past 24 hours) as of now.<\/p>\n

\"ETH
Hourly chart of ETH\/USD on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

Following the leaders, all top-10 assets moved into the green. The largest gain after Bitcoin is shown by Polygon \u2014 3.1%. The total market capitalisation stands at $941.9 billion.<\/p>\n

\"Data:
Data: CoinGecko.<\/figcaption><\/figure>\n

The uptick began to take shape<\/a> even before the release of the BLS<\/span> report. In December, year-on-year consumer price growth slowed from 7.1% to 6.5%, versus an expected 6.7%. Core inflation fell from 6% to 5.7%, with expectations at 5.8%.<\/p>\n

According to CME FedWatch<\/a>, the probability of a rate increase at the Federal Reserve’s meeting on February 1 by 25 basis points, to 4.75% per annum, rose to 93.7%. Before the macro data release it stood at 76.7%.<\/p>\n

\"Distribution
Distribution of the probabilities of a rate hike at the February meeting. Data: CME FedWatch.<\/figcaption><\/figure>\n

In December, Bitcoin reacted to a drop below $18,000<\/a> after the Fed decided to raise the target range for the federal funds rate by 50 basis points\u2014to 4.25-4.50% per annum. That was the highest level since 2007.<\/p>\n

In December, Nansen analysts said that the baseline scenario for 2023 was a US recession and a fresh wave of stock-market sell-offs. Under these conditionscryptocurrencies would be subjected to negative revaluations<\/a>.<\/p>\n

Read ForkLog’s Bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the evening of January 12, Bitcoin rose above $19,000 after the release of inflation data in the United States.<\/p>\n","protected":false},"author":1,"featured_media":72455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-72454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72454"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72454\/revisions"}],"predecessor-version":[{"id":72456,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72454\/revisions\/72456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72455"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}