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


by CoinEdition

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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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Here's what Fed's highly anticipated rate decision this week means for bitcoin and the dollar

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


by CoinEdition

Share:

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

In This News

Share:

In This News

Share:

Read More

Here's what Fed's highly anticipated rate decision this week means for bitcoin and the dollar

Here's what Fed's highly anticipated rate decision this week means for bitcoin and the dollar

Powell could signal a "dovish pause," but his comments on other issues may temper the...
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold

Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold

Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly sel...