After hitting local lows of $43,000 in recent days, Monday is seeing a renaissance in momentum on Bitcoin markets, with even Bitcoin-skeptical Citibank flipping bullish on long-term prospects.
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Markets Report: Bitcoin taps support at $44,000 after week of losses
A painful few days for hodlers looks set to culminate in a test of various critical support levels
Bitcoin has almost completed another rollercoaster week in which it met its second major price correction of 2021. Having hit $58,300 all-time highs, bulls lost steam with a retracement becoming a full-on dive in which Bitcoin lost 20%. Subsequent ranging combined with fresh weakness has taken weekly losses to almost 25%.
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Markets Report: Bitcoin steadies as analyst proclaims ‘strongest bullish signal ever seen’
Major buy-ins even at $48,000 provide a unique source of good news in a week when Bitcoin shed 20% of its value
Bitcoin hovered near $50,000 on February 25 amid what one analyst suspects are fresh buy-ins from institutional investors. US institutional investors are still buying Bitcoin at the 48k price,” said Ki Young Ju, CEO of on-chain analytics resource CryptoQuant.
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Markets Report: Bitcoin recovers from $45,000 lows as Tether legal debacle ends
An amicable agreement between lawmakers, Tether and Bitfinex pleases markets, with Bitcoin heading toward $50,000
News that Tether and Bitfinex had reached a settlement with the New York Attorney General in a legal battle which had begun in 2019, ending crypto’s “most significant existential threat,” served to change market sentiment in an instant.
