Why is Crypto Up? Are We Back? 3% Bitcoin Price Run, 5% on Ethereum
So Yesterday was just another manic Monday after all. Yesterday, we woke up to red candles, bad vibes, and a pit in our stomachs as the weekend chewed through liquidity. Yesterday was bad and sad. But today, we are happy, Bitcoin price clawed back 3% to the high $78K level while Ethereum jumped close to 5%. Why is crypto up today?
Oversold conditions are likely the answer; it always snaps back. Look at it this way, after a heavy weekend of selling, buyers stepped in for a classic intervention, then the bounce draws retail inflows, always the same playbook. Whales accumulated into weakness as we panicked.
So what did happen from a technical standpoint? Bitcoin price dipped into liquidity around $75,000, shook out leverage,…
