February 14 Market Analysis: Bottom Support Level Rises

On the macro level, the CPI data released yesterday showed positive performance, which boosted the market's expectations for cumulative interest rate cuts throughout the year. As a result, the cryptocurrency sector has seen a comprehensive recovery, reclaiming losses from the previous two days. It is noteworthy that, despite Coinbase's earnings report presenting bearish news, its stock price did not suffer, instead rising against the trend by 16%.

From a technical perspective, this round of correction has established a key characteristic: the position of the lows has significantly risen. We have observed that the bottom support has moved up from the previous 60000 level to around 65000. The upcoming market evolution is expected to move towards creating higher highs, with a target point likely to reach around 74000.

Overall, the trend of BTC fluctuating upwards from February to March has officially begun.

#BTC #ETH #XAU