Bitcoin Bulls still have the time and energy to turn the tide in their favor.

Over the past week, the BTC/USDT pair has risen by 2.88% to $43,071. The $39,650 recovery phase began on Monday (January 10). On Tuesday, the growth of prices accelerated after the speech of the head of the US Federal Reserve, J. Powell, in the Senate Banking Committee. The head of the Fed eased fears that the central bank would be overly aggressive in cutting its huge balance sheet.

On Wednesday, the bitcoin rate rose to $44,322. The increase in prices caused the December inflation report in the US. The data exceeded the forecasted values, but they did not help the dollar due to the decrease in the yield of treasuries. Despite the high inflation values, the market preferred to resort to the “buy on rumors, sell on facts” strategy.

On Thursday, the dollar index hit a new low and profit-fixing began in all markets ahead of the long weekend in the US. The trigger for the sale of US stocks and the fall of stock indices was the representative of the Fed, Lael Brainard. She said that the Central Bank may raise interest rates as early as March. A sharp rise in the yield of 10-year bonds supported the dollar and put pressure on risky assets, including cryptocurrency.

On Monday, January 17, trading opened with a slight increase in the dollar and futures for US stock indices. Against this background, the BTC/USD pair sank to $42,300. At the time of writing, Bitcoin is worth $42,600. Day off in the USA. Americans celebrate Martin Luther King Day. There will be no trading on the NYSE and NASDAQ exchanges. In the foreign exchange market, reduced volumes. During such a period, sharp multidirectional fluctuations in the range of $42,000–43,400 are possible for bitcoin.

The main factors affecting the crypto market in January: the dynamics of the yield of 10-year bonds, stock indices and the dollar index. The US Federal Reserve's March rate hike is priced in, so buyers have the time and energy to turn the tide in their favor.