The post Analyzing Bitcoin’s Recent Recovery Trend- A Calm Before The Storm appeared first on Coinpedia Fintech News
Amid intense volatility in the crypto market, Bitcoin has been a beacon of intrigue, its recent recovery trend painting a picture of resilience amidst a storm of regulatory scrutiny. Bitcoin was trapped in a bearish region for a while because of the SEC’s intensified gaze on the crypto market. The situation was further exacerbated by the Federal Open Market Committee’s (FOMC) decision to pause further interest rate hikes, triggering a heavy sell-off that sent ripples across the crypto landscape.
However, like the proverbial phoenix, Bitcoin rose from these ashes, fueled by an unexpected catalyst – Blackrock’s Bitcoin ETF filing. This move ignited an intense bullish rally, catapulting Bitcoin’s price above the psychological level of $26K. As we delve deeper into this analysis, we will unravel the intricacies of this recovery trend, exploring whether it is a
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