Bitcoin rallies to its highest price in 2023 as crypto momentum is on the rise

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(Kitco News) - The cryptocurrency market fell under pressure during early training on Wednesday and struggled to mount any momentum until later in the afternoon when prices started to trend higher and Bitcoin bulls set their sights on pushing past resistance at $23,000.

Stocks also faced a pullback at the market open and spent the rest of the trading session clawing their way higher in an attempt to get back to even on the day. At the close of markets in the U.S., the S&P and Nasdaq managed to recover most of what was lost, finishing down 0.02% and 0.18%, respectively, while the Dow was able to climb into positive territory and finished the day up 0.03%.

Data from TradingView shows that Bitcoin (BTC) bears made several attempts to push its price lower over the course of trading on Wednesday, ultimately dropping BTC to a daily low of $22,345 before bulls managed to bid it back above $22,800. An afternoon rally saw the top crypto hit a daily high of $23,684.