Is Bitcoin above $21,000 a bear market rally or the start of something good?
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Despite the rise of the cryptocurrency to a two-month high, few believe that the current momentum will turn out to be anything more than a bear market rally. The market has yet to recover from the FTX crash, so it seems symbolic that bitcoin has now reached levels prior to this dramatic event. Yesterday the asset reached $21,484 according to the cryptocurrency screener Cryptovizorwhich determines the market price of BTC/USD based on the results of trading on the largest spot exchanges. 1 week BTC/USD chart and 21 week moving average. Source: Cryptovizor Analytical resource Material Indicators noticed on the importance
Well-known market analyst il Capo believes Bitcoin has entered a support zone that could trigger a brief rally, benefiting altcoins like XRP. After recovering to $74,000 on May 31, Bitcoin (BTC) began June with renewed bearish pressure, as macro conditions and Strategy’s BTC sale dealt a blow to market sentiments.…
After a long period of suffocating sideways, Bitcoin is showing a desperate rally, which experienced traders look at with great disbelief. According to the Cryptocurrency Screener Cryptovizorwhich determines the market price of BTC/USD based on the results of trading on the largest spot exchanges, today the asset reached a new…