This first week of February adds up to a good start for Bitcoin price action that has been performing a sideways channel with top line at USD 43,000, and a valuable piece of information is that the BTC price marks a new high in February.
According to information disclosed by William Suberg to the news portal Cointelegraph, "Bitcoin surpassed USD 43,500 at the Wall Street opening on February 5, as U.S. markets reacted to the turmoil in Chinese stock markets."
In this regard it has been pointed out that, "Bitcoin had heated up in the first Asian session of the week when China's CSI 1000 index fell 8% in a single day, prompting authorities to impose more controls on short selling"
On the other hand, according to The Kobeissi Letter "Although China has promised to stabilize its markets, investors are worried. Many believe that China will focus primarily on large-cap stocks. Hence, there is now a big disconnect between large-cap and small-cap companies."
Finally, one piece of information that caught my attention is that according to Keith Alan, co-founder of the trading tool Material Indicators "added that the escalation of buying liquidity above the point, which in turn was moving lower, suggested that a sudden rise to USD 45,000 or more was now likely in the immediate short term"
SOURCES CONSULTED
Cointelegraph. BTC price sets new February high as Bitcoin buyers target faraway $25K. Link
OBSERVATION:
The cover image does not belong to the author: 
, the image was taken from: Cointelegraph
, the image was taken from: Cointelegraph