Bitcoin Rebounds 19% After COVID-19-Inspired Drop and FTX Crash
Bitcoin rebounded to $71,673 on Bitstamp, a more than 19% gain after a dramatic drop below $60,000 the previous day. However, the leading cryptocurrency has yet to consolidate above this level on the daily timeframe, raising questions about the sustainability of the recovery.
Martin Leinweber, Director of Digital Asset Research and Strategy at European index provider MarketVector Indexes, published an analysis showing that Bitcoin has fallen 2.88 standard deviations below its 200-day simple moving average (SMA). In 10 years of dat