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BTC Hits $27K, Securing 9-Month High; ETH Eyes $1,800

• Bitcoin (BTC) rose back above $27,000 in today’s session, as markets reacted to the Federal Reserve’s decision to pump liquidity into the U.S. economy.
• Ethereum (ETH) also surged higher in today’s session, with prices moving back above $1,700.
• Both BTC and ETH have seen their 10-day and 25-day moving averages move closer to an upwards crossover, which many traders believe is a sign of a longer-term bull run.

Bitcoin Hits Fresh 9 Month High

Bitcoin moved to a fresh nine-month high on Friday, as prices moved above the $27,000 level following the U.S. Federal Reserve’s decision to backstop embattled banks to a record tune of $152.9 billion.

Analysis of Bitcoin Price Movements

Bitcoin (BTC) rose back above $27,000 in today’s session and hit an intraday peak of $27,002.39 earlier in the day – its strongest point since June 2022 when price was above $28,500. The 10-day (red) moving average is now on the verge of an upwards crossover with its 25-day (blue) counterpart, which many see as a sign of a longer-term bull run. The 14-day relative strength index (RSI) has broken out of a resistance level at 67.00 and is currently tracking at 70.09 – the strongest reading for the index since early February.

Ethereum Also Climbs Above $1,700

Ethereum (ETH) also saw strong gains today with prices moving back above $1,700 and hitting an intraday peak at $1,766.55 earlier in today’s session – just 24 hours after hitting a bottom at $1,644.54 and pushing past a recent price ceiling at around $1,720.. The 10-day (red) and 25-day (blue) moving averages are close to an upwards crossover which could see ETH trading beyond its current levels if it breaks through resistance from its 14-day relative strength index which is currently tracking at 62