According to CoinDesk, the CoinDesk 20 Index has recovered to 1,650 points, the digital asset market has returned to familiar levels before the launch of the Bitcoin Spot ETF, and the Bitcoin Trend Indicator (BTI) has also reestablished a significant upward trend. BTI is an online tool created by CoinDesk subsidiary CoinDesk Indices to help investors determine where Bitcoin (BTC) prices will go.
The market is also shaking off the impact of rising US interest rates. Last Friday's January employment report showed that the number of new jobs was 353,000, far higher than the expected 170,000. In a 60 Minutes interview over the weekend, Fed Chairman Powell said that "we have made good progress but the task is not yet completed" in terms of inflation, causing the US 10-year Treasury yield to rise from 3.9% in the previous few days to 4.1%. The CoinDesk 20 index is also rising towards the 1,800 level, forming a bullish vane.
