The crypto market has left behind an eventful week, and the leading cryptocurrency Bitcoin has almost completely erased the effects of the sharp declines it experienced along with the negative developments. and is currently trading in the price range of last week.
Bitcoin has surprised the bears by increasing tremendously in the last 5 days, and while many expected a further decline, Bitcoin has returned above $60K. Bitcoin is increasingly integrated into mainstream macro capital markets and continues to maintain its ‘Digital Gold’ designation.
Bitcoin experienced one of its biggest declines on Monday, falling below $50,000, then quickly recovered and managed to regain its losses and is currently trading at $61,002, almost where it was last Sunday. Bitcoin has really made a huge breakout and broken the strong bear pressure. I think the recent rise of Bitcoin has increased confidence in the crypto market and I think there will be more entry into the crypto market in the coming months.
