Bitcoin Despite The Bearish Conditions Still Holds The Level Up At $19.5K
Bitcoin (BTC) the world’s largest cryptocurrency by market price is still holding steady, despite bearish and volatile economic news. Bitcoin is still holding at $19,500 and Tuesday, up 1% on the day.
Bitcoin sold off last week after the US Consumer Price Index was worse than expected, but the cryptocurrency quickly recovered. US stocks and European stocks rallied in crypto trading and investors await another round of earnings.
Matteo Bottacini, an analyst at Crypto Finance AG, wrote in a note Tuesday morning: “The fact that cryptocurrencies are catching up so well with bearish news tells me that the market is positioned to be positioned too good for the downside and happy to take some risk in the future.”
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