A Worryingly Weak Rebound in Crypto
Bitcoin has been trading around $87K for the last three days. The recovery rebound has lost momentum, but the bears have not taken active action either, due to increased risk appetite in global markets and a moderate weakening of the dollar, which is an ideal breeding ground for cryptocurrencies. We continue to note the weakness of cryptos, given the favourable investment environment, which forces us to look for reasons in longer-term processes, such as profit-taking after the rapid growth of the last two years.
Crypto News
The fall in Bitcoin is linked to the reaction of institutional investors on Wall Street, who were unprepared for the sharp fluctuations in the asset, said Anthony Pompliano, founder of Pomp Investments. The…
