Bitcoin, Ethereum Reverse CPI-Fueled Gains as Strategy Stays Quiet: Your Weekly Crypto Recap
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Bitcoin fell below $62,000 earlier in the previous business week after Strategy executed its largest sale to date and amid renewed Middle East attacks, but recovered by the weekend to trade sideways around $64,000 in the broader crypto market. On Monday the price again dipped under $63,000 as markets priced in new US-Iran clashes from the weekend, highlighting price volatility and geopolitical risk even as bulls managed to defend the level.
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Bitcoin dipped on a couple of occasions below $62,000 during the previous business week, prompted by Strategy’s largest sale to date and the renewed attacks in the Middle East. However, it recovered a lot of ground by the weekend and spent it trading sideways at around $64,000.
Monday began with another nosedive to under the aforementioned level as the market priced in the new attacks between the US and Iran from Saturday and Sunday. Nevertheless, the bulls showed strong conviction and managed to defend that level.
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