Friday's Market Update (Jan 20, 2023)
Friday's NASDAQ gaining 1.9 percent (o:10924, c:11140) was spectacularly outperformed by BTC jumping 5.6 percent during day's session (o:1553, c:1640). On after-hours BTC rushed through 22K getting to 22792 on its pick.
Whales were feasting on short squeezes at Jan 20th. Also, existing-home sales falling the eleventh month in a row (to 4.02M) might served as a trampoline for market players. However, on evening, volumes started to subside a bit, indicating traders growing weariness. Additionally, NASDAQ closed inside of its Wednesday's candle - the classical sign of weakening trend.
To sustain its growth through weekends BTC needs someone (or something) to add more fuel to bulls' engines. It might not be possible until the beginning of the next week when more peoples are expected to FOMO into crypto as news about this run continue to spread.