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Will Bitcoin’s Bearish Trend Continue or Recent Rebound Persist?


by CoinEdition
Will Bitcoin’s Bearish Trend Continue or Recent Rebound Persist?
  • Bitcoin surged past $58k despite its recent decline to the $57k level.
  • Mt. Gox’s customer repayment and German government’s BTC sell-off triggered the BTC dip.
  • Altcoins like BAKE, OP, W, ARB, and CRV have also reflected on Bitcoin’s positive sentiment.

In a recent development in the crypto ecosystem, Bitcoin has recovered from the market turmoil, surging past the $58k mark. Bitcoin’s resurgence aligned with the market’s overall positive momentum.

Over the past few days, Bitcoin has been riding over a negative track with BTC even slipping below the $55k level. Especially following Mt. Gox’s customer repayments and German government’s massive Bitcoin sell-off, BTC price was under pressure, contributing to an overarching bearish sentiment.

The German government has garnered attention over the past few days with its continuous BTC transfers. Since last week, the government has sold more than 500 BTC. Even in the early hours of Sunday, the authority moved 700 BTC, worth about $40.55 million to the unmarked address 139PoP…H7ybVu, halting the recent rebound of Bitcoin.

The defunct crypto exchange Mt. Gox has recently initiated its customer repa…

The post Will Bitcoin’s Bearish Trend Continue or Recent Rebound Persist? appeared first on Coin Edition.

Read the article at CoinEdition

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Will Bitcoin’s Bearish Trend Continue or Recent Rebound Persist?


by CoinEdition
Will Bitcoin’s Bearish Trend Continue or Recent Rebound Persist?
  • Bitcoin surged past $58k despite its recent decline to the $57k level.
  • Mt. Gox’s customer repayment and German government’s BTC sell-off triggered the BTC dip.
  • Altcoins like BAKE, OP, W, ARB, and CRV have also reflected on Bitcoin’s positive sentiment.

In a recent development in the crypto ecosystem, Bitcoin has recovered from the market turmoil, surging past the $58k mark. Bitcoin’s resurgence aligned with the market’s overall positive momentum.

Over the past few days, Bitcoin has been riding over a negative track with BTC even slipping below the $55k level. Especially following Mt. Gox’s customer repayments and German government’s massive Bitcoin sell-off, BTC price was under pressure, contributing to an overarching bearish sentiment.

The German government has garnered attention over the past few days with its continuous BTC transfers. Since last week, the government has sold more than 500 BTC. Even in the early hours of Sunday, the authority moved 700 BTC, worth about $40.55 million to the unmarked address 139PoP…H7ybVu, halting the recent rebound of Bitcoin.

The defunct crypto exchange Mt. Gox has recently initiated its customer repa…

The post Will Bitcoin’s Bearish Trend Continue or Recent Rebound Persist? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Bitcoin Price Sets New All-Time High: Is $150K Next?

Bitcoin Price Sets New All-Time High: Is $150K Next?

Bitcoin price breaks new all-time highs above $125,500, as persistent institutional d...
The Fed's Next Move on Oct. 29: How a Scenario Few Expect Could Derail U.S. Stocks and Crypto

The Fed's Next Move on Oct. 29: How a Scenario Few Expect Could Derail U.S. Stocks and Crypto

Markets brace for the Fed’s Oct. 29 FOMC decision amid shutdown and U.S. jobs market ...