As Bitcoin nears $25K, questions on rally’s sustainability stay

It’s no secret that the worldwide economic system has continued to weaken over the course of the previous yr. Up to now, on Jan. 19, the USA authorities hit its “debt ceiling,” i.e. the entire sum of cash that the U.S. Treasury can borrow to fund its ongoing federal operations, resulting in renewed issues that extra monetary ache and the financial slowdown might be incoming.

Equally, on the opposite facet of the Atlantic, the UK has been struggling as properly. That is made evident by the very fact the variety of firm insolvencies registered in 2022 hit 22,109 — a 57% spike from the yr prior and its highest charge since 2009. Not solely that, the Worldwide Financial Fund just lately launched a report suggesting that the UK could be the one G-7 nation to face a recession this yr.

Is $25,000 the following cease for Bitcoin?

Key market indicators

Market sentiment analyzed

What lies forward for the market?

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