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Bitcoin Bounces from 100k – is the BTC Bottom In?
It was a brutal day for the risk trade yesterday and that perhaps showed most clearly in Bitcoin, which pushed down for a re-test of the 100k level for the first time since June. That prior episode was followed by a strong bullish response and so far we’ve seen a repeat of that. In the prior instance, the rally ran all the way to fresh all-time-highs and the initial test of 120k, which eventually stalled the rally. So, seeing another reaction at such a major psychological level on a pullback makes sense if you think of the institutions that might’ve been waiting for a dip to add to allocations. But, the bigger ... (full story)
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