Bitcoin continues to rise in price despite concerns of a potential retracement.
BTC price trajectory has been boosted by recent events, including a speech from Jerome Powell, chair of the US Federal Reserve.
Powell’s speech was conservative on the outlook, acknowledging potential problems with hiking rates too far.
Market expectations for future rate decisions have shifted, with the Federal Open Market Committee now expected to hold rates at their current levels.
US regulators dropping criminal charges against Ripple executives also had a positive impact on XRP’s price.
There is increasing anticipation for the approval of a US Bitcoin spot price exchange-traded fund (ETF).
Bitcoin’s price is approaching two-month highs and is expected to continue rising.
Traders are monitoring liquidation levels and warn of a potential retracement during the US trading session.