James Lavish, managing partner at Bitcoin Opportunity Fund, said that bitcoin’s pullback late Tuesday indicated that the cryptocurrency “got ahead of itself with short covering after pushing through key $25,000 resistance for traders.” In an email to CoinDesk, he added: “That, plus the CPI numbers suggest the hikes are not quite over yet, even if the 50-basis point is essentially off the table now.”
Source: https://www.coindesk.com/markets/2023/03/14/bitcoin-gains-early-fades-late-to-trade-below-25k/?utm_medium=referral&utm_source=rss&utm_campaign=headlines