Bitcoin returns above the $24,000 level📈

The second part of Monday's market session brings a significant improvement in sentiment in traditional markets, where Wall Street negated early declines. US indices are trading sharply higher, with the Nasdaq gaining 1%, the S&P500 gaining 0.7% and the Dow Jones over 0.65%. However, the real dominance of the bulls has become active in the crypto market, with Bitcoin gaining more than 10% and breaking above the resistance level near USD 24 000. The bullish turnaround is directly attributable to the decision of US regulators to guarantee deposit withdrawals for banks that have collapsed over the past few days, in the face of massive deposit outflows and a lack of liquidity. 

Positive sentiment continues to be supported by a decline in expectations of decisive Fed action next week. The swap market is currently pricing that the FED will raise rates by 15 percentage points at next week's Fed meeting (next week, 61% probability). Source: Bloomberg

Bitcoin breaks above resistance at the $24,000 level and paves the way towards the recent peaks of the retracement move. Source: xStation 5