Deutsche Bank Big Announcement Pushes BTC To Break $26,800!


 "Is BTC going to start a bullish move or is this just temporary?"

The price of the mother of all cryptocurrencies Bitcoin (BTC) yesterday managed to surpass $26,800 when the leading financial institution Deutsche Bank announced that it will offer custody services for digital assets.

In order to deliver that service for institutional clients who want to securely manage their digital assets, Deutsche Bank has entered into an agreement with a Swiss digital asset firm called Taurus.

There is no denying that the price of BTC saw an increase when the news about Deutsche Bank was released, but analysts remain cautious in the wake of the Federal Open Market Committee (FOMC) meeting that will take place next week.

The streak, a decision by Fed Chairman Jerome Powell may have an impact on the price of BTC as traders will be more interested in buying the digital asset if the central bank intends to ease monetary policy throughout 2023 which is a few months away.

It is also worth noting that the price of BTC was able to climb slightly on Thursday after the European Central Bank (ECB) signaled that the tenth consecutive increase in its main interest rate may be the last.

According to popular crypto analyst Michael van de Poppe, BTC will signal a clear decline when the price returns to the range of $25,600 to $25,900, otherwise it can also rise again if the digital asset can break through $26,800.

As of this writing, the price of BTC has jumped by 0.98% to $26,493 in the last 24 hours with a market cap of $518 billion and is up 0.68% over the last week.