BTC sustained its rebound for the second straight day, as crypto price targets saw bullish predictions for the short term, with the rising market volatility.
Macroeconomic data from the US indicating slightly higher inflation has had no effect on Bitcoin. In fact, BTC has continued its rally, with a firm trading range above $26500. The $26000 mark was acting as the psychological resistance for BTC for days.
Currently, BTC is comfortably trading above the mark, with signs of consolidation. If the present price rise continues in the market, it could see newer highs in the short term.
Most other tokens in the crypto market saw green trajectories in the last 24 hours. The higher volatility in crypto propelled tokens like ETH, XRP, Solana, and TRX to rise.
Analysts predict BTC could target $27000 in the upcoming week. Bulls could start buying more with bullish sentiments if it can hold its current price levels.
Central banks worldwide have called for concern regarding the latest increase in inflation. Most experts could focus next on interest rates, while traders aim to take BTC towards its earlier highs. A higher crypto market cap could soften any losses arising from rate hikes in the near future. Bitcoin’s present market capitalization is above $511 billion.
BTC/USD 1D price chart
Bitcoin is currently trading at around $26500 on September 15, 2023, with BTC/USD trading higher by 1% in the last 24 hours. BTC/USD is trading higher than its 20-day EMA (26,150.66) after several days, as BTC’s 24-hour volume stayed at around $12 billion. Bitcoin has seen around 60.50% returns on a year-to-date basis.