Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs By Cointelegraph

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© Reuters.

On Feb. 1 and Feb 2. Bitcoin’s (BTC) price surpassed even the most bullish price projections after the U.S. Federal Reserve announced plans to raise interest rates by 25 basis points.

Even though Fed chair Jerome Powell told investors not to wait for interest rate cuts in 2023, during his press conference he did clearly state that the employment data is currently the main focus.

OKX stablecoin/BTC margin lending ratio. Source: OKX
60-day options 25% delta skew: Source: Laevitas