Bitcoin price over $20K creates FOMO with 620K BTC wallets pop-up

Bitcoin (

Bitcoin continued its bullish momentum into February’s first week as well, reaching a new five-month high above $24,000. However, the price couldn’t hold above the $24,000 resistance for long and eventually slumped below $23,000 earlier today. Market pundits believe February may not be as bullish as January.

Amid confusion over how incoming U.S. macroeconomic data may affect market sentiment, market analysts have warned that the rebound seen in crypto and stocks this year may flip bearish this month. They attributed the potential upcoming downward trend to the extent of the Federal Reserve’s interest rate hikes.