"Only a week after experiencing a dreaded "death cross," and subsequently seeing its value fall to less than $81,000, Bitcoin is showing some signs of recovering. On Monday, BTC's price topped $89,000, and as of early Tuesday, are hovering around $87,500. To be clear, the slump is far from over-the coin saw its price top $124,000 just last month-and no one can predict what will happen next, but it's a clear upswing in momentum."
"There were several reasons for the selloff, including outflows from large institutional investors and broader economic uncertainty, among other things. It was a wipeout of around $1 trillion in market value. Sentiment may be on the upswing As for this week, it's anyone's guess how much momentum the cryptocurrency will have, but investors appear to be felling a little better."
Bitcoin rebounded after a steep selloff, rising from a low below $81,000 to intraday highs near $89,000 and trading around $87,500. The decline represented roughly a 35% drop from a recent peak near $124,000 and erased about $1 trillion in market value. Major contributors to the selloff included outflows from large institutional investors and broader economic uncertainty. Market sentiment remains shaky but shows signs of improvement, with the Crypto Fear and Greed Index rising from 10 to 15 after hitting 76 in May when Bitcoin traded near $111,000. Upcoming Federal Reserve decisions could again influence crypto momentum, and uncertainty remains about whether gains can be sustained toward all-time highs.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]