Bitcoin bulls struggle to pare the weekend’s losses despite a strong start on Monday.
New York Attorney General Letitia James issued an alert to cryptocurrency investors and a strongly worded warning to industry participants.
A bearish engulfing candle is just one signal among many market indicators and some analysts say the bull market is intact.
The cryptocurrency rose to $1.30, beating out its previous all-time high set in January 2018.
The GameStop saga highlighted the “middleman” issues with services like Robinhood. But the data shows crypto exchanges have their own problems.
In a closely watched case with wide-ranging implications for the crypto market, Tether has admitted no wrongdoing and will provide reports on USDT’s reserve composition for two years.
There are signs some of the excessive leverage had been wrung out of the market, implying the potential for a fresh more to the upside, analysts said.
Bitcoin analysts say this week’s quick market rebound might be due to Chinese retail buyers buying the dip, using the stablecoin tether.
After a lot of drama, bitcoin’s back to trading where it was a few days ago.
The news flow still looks bullish on bitcoin, but the market appears to have gone too far, too fast.