On Friday, Bitcoin rose by as much as 5% to around $73800. It later narrowed its gains as U.S. stocks declined during the trading session, although it outperformed the broader U.S. stock market as well as gold and silver.
Cryptocurrency fund managers who have experienced previous cycles of bull and bear markets indicated that a set of indicators that have often marked market bottoms in the past suggests that this round of selling may be entering its final stage. The note highlights that such indicators have historically signaled bottoms, implying the current downturn could be nearing an end.
Leave a Reply