Bitcoin Edges Upward but Recovery Remains Weak

Deep News
Yesterday

Bitcoin has seen a modest rise, diverging from the decline in U.S. stocks overnight, though its recovery remains fragile following recent selling pressure. Tensions between the U.S. and Iran have weighed on American equities, with the deployment of aircraft and warships in the region sparking concerns about potential strikes against Iran. According to a report by Thomas Strobel, a strategist at UniCredit Investment Research, while Bitcoin has advanced slightly, its price continues to trade below key moving averages. "Although market sentiment remains fragile and downside risks persist, the possibility of a potential recovery cannot be excluded as the broader environment evolves," Strobel noted. Data from the London Stock Exchange Group indicates that Bitcoin's price has rebounded since hitting a 16-month low of $60,008 on February 6.

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