Bitcoin meets FOMC after 39% January gains with Fed path ‘uncertain’


Bitcoin (BTC) hovered around $23,000 on Feb. 1 after sealing its best January performance in ten years.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

End of Bitcoin bear market is “default view”

Data from Cointelegraph Markets Pro and TradingView confirmed a monthly close of around $23,100 for BTC/USD — its highest since July 2022.

The largest cryptocurrency finished the first month of the year up 39.6%, according to statistics from Coinglass.

BTC/USD monthly returns comparison (screenshot). Source: Coinglass

The impressive performance emboldened bulls, many of whom had kept the faith despite mass misgivings from more conservative market participants.

“Bitcoin closes with a Monthly swing low,” trader, entrepreneur and investor Bob Loukas reacted.

“I mean, anything can happen, right. But the absolute default view must be the bear market ended in Dec.”

As Cointelegraph reported, opinions differ considerably over how Bitcoin will behave in February, with one trader expecting “bearish” conditions to return after five-month highs.

The picture for the month ahead…

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