Why Bitcoin Could Return to $17,000 In the Short Term

The price of Bitcoin continues to grind slowly to the downside while other major digital assets follow. The market is moving in tandem with the legacy financial sector, pricing in a higher terminal rate for 2023. As of this writing, Bitcoin trades at $16,600 with sideways movement in the last 24 hours. In the previous week, the cryptocurrency is recording a 3% loss. Previous outperformers, such as Dogecoin, Polygon, and Ethereum, are seeing heavy losses on similar timeframes. Bitcoin L