The Bitcoin price rebounded off the low of its current range and retraced its weekend losses. The cryptocurrency might climb back to the previously lost territory, but uncertainty is king in the current market conditions.
As of this writing, Bitcoin is trading at $16,400. In the last 24 hours and last week, the price recorded a 2% and 4% profit, respectively. Other cryptocurrencies in the crypto top 10 are following, but Binance Coin (BNB) and Dogecoin (DOGE) are leading the bounce.
BTC’s price moving sideways on the daily chart. Source: BTCUSDT Tradingview
The High And Lows, Is There Hope For The Bitcoin Price?
Investment firm Cumberland posted a market update highlighting the uncertainty in Bitcoin and other cryptocurrencies. The nascent asset class is trading in a range after experiencing massive sell pressure amid the collapse of FTX.
In this uncertain and low liquidity environment, with FTX and its market maker Alameda Research out of the picture, the Bitcoin price will li
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