-
Bitcoin is rebounding, and it has returned to the higher structure of the high-$90,000 and low-$80,000 area after temporarily falling to the mid-$80,000s. The shift has relieved short-term downside pressure, but market evidence indicates that the rally alone is insufficient to indicate that a new leg of a bull market is beginning. Rather, analysts believe that the next step is whether a number of deeper regime indicators start to reverse to risk-on. At the time of writing, Bitcoin was trading around $89,500, up about 1.4% over the past 24 hours.
Bitcoin is down more than 7% over the last 14 days, showing sustained selling pressure that followed its retreat from record highs near $126,000 late last year. While prices have been...