2021-4-19 12:23 |
A rare seal of approval from the People's Bank of China comes as Bitcoin recovers from a price crash which sent it to $52,000.
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Crypto asset investment products faced another week of outflows last week, marking the second consecutive week of investor pullback. According to the latest weekly report released by CoinShares, total outflows amounted to $584 million, pushing the two-week outflow total to roughly $1.
Following a series of discussions with a diverse group of US investors, analysts at Bernstein have noted a notable observation: various market participants are increasingly convinced that “crypto is back.
Bitcoin ongoing price movement has sparked intense analysis as it continues to hover below the $100,000 mark. Despite reaching an all-time high above $108,000 last week, the cryptocurrency has struggled to maintain upward momentum ever since.
Bitcoin has continued to see declining performance in recent days with on-chain metrics offering valuable insights into market behavior. Among these metrics, the Spent Output Profit Ratio (SOPR) for long-term holders has particularly emerged as a critical tool for assessing investor sentiment and market resilience.
Bitcoin has seen continuous bullish momentum in recent weeks resulting in the asset’s consistent new highs. According to recent analysis, this momentum appears to not just be random as it comes amid major moves behind the scenes.
So far, the Bitcoin market continues to demonstrate resilience as it maintains its price above the $90,000 price market despite various factors influencing its price movements. Amid this, a CryptoQuant analyst, aytekin466, recently shared insights into whether the cryptocurrency could face another significant price correction.
The global cryptocurrency market continues to attract significant investor interest as crypto investment products recorded a substantial influx of funds last week. According to CoinShares’ latest weekly report, crypto funds registered a net inflow of $2.