BTC surges above $27,000, hitting its highest point since June 2022.
) rose back above $27,000 in today’s session, as markets reacted to the Federal Reserve’s decision to pump liquidity into the U.S. economy./USD raced to an intraday peak of $27,002.39 earlier in the day.
As a result of the move, bitcoin climbed to its strongest point since June 2022, when price was above $28,500.Since this latest rally, the 10-day moving average is now on the verge of an upwards crossover with its 25-day counterpart, which many see as a sign of a longer-term bull run. In addition to this, the 14-day relative strength index has broken out of a resistance level at 67.00, moving into overbought territory in the process.
At the time of writing, the index is tracking at 70.09, which is the strongest reading for the index since early February.
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