The value of the first cryptocurrency exceeded $30,000, setting a new high in 2023. The growth of BTC continues amid expectations for the Federal Reserve’s inflation report, which is coming out on April 12.
Bitcoin rose to its highest level in ten months. According to CoinGecko, as of 11:00 a.m. (GMT+3) on April 11, the price of the first cryptocurrency was $30,133.
In total, over the past 30 days, BTC has recorded an increase of almost 46%, rising to its highest level this year. The growth in quotes is primarily due to the upcoming report on the U.S. Consumer Price Index. The report is expected to show a decline in inflation from 6.0% to 5.1% year-over-year, which, in turn, may become a catalyst for the upward movement of BTC.
Remarkably, while Bitcoin quotations went up, U.S. tech stocks, on the contrary, recorded a plummet. This may indicate that the first cryptocurrency is more resistant to most macroeconomic factors, although BTC and tech stocks are trading together more often lately.
The Fear and Greed Index has remained firmly in “greed” territory since last week, and as of April 11, it shows a score of 68 out of a possible 100. It should be noted that earlier, such a high index value was reached in March this year, after which BTC quotations grew by 20% on average.
You can find the crypto market forecast for April and Bitcoin’s future prospects in a special article in which CP Media collected the opinions of specialists and experts.
