BTC | BITCOIN $21273.00 +0.12% - O Financeiro

Breakout or Fakeout? Bitcoin Rallies to $21,000 As Volatility Returns

Bitcoin hit a yearly high of $21,235 last week on the back of extremely positive CPI data for the month of December. Overall inflation cooled to 6.5% compared to 7.1% in November. The market responded; increased volume levels and social engagement contributed to Bitcoin's rapid rise last week.

We're technically still in a bear market, and analysts believe the BTC price has to sustain above the psychological level of $21,000 to trigger any kind of bullish trend in the coming weeks.

Regardless, investor sentiment seems to be improving; Bitcoin stepped out of the fear zone for the first time in nine months. At the time of writing, the Bitcoin Fear and Greed Index is at 51 (neutral), and the Bitcoin price is $21,150.

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