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Bitcoin Ends 9 Week Bearish Streak to Rally Above $31k
After closing nine successive weeks lower than it started, Bitcoin, the world’s largest crypto, has closed a week out with bullish signs.
Breaking out of the longest bearish streak for Bitcoin since its launch in 2009 has sparked a rally for the leading asset and the broader crypto market. Over the last 24 hours, Bitcoin has gained in value by 6.1% to trade as high as $31,492.
The 24 hour price chart for Bitcoin (BTC). Source: CoinMarketCap
Flipsider:
At the height of Bitcoin’s drop in May, the number of Bitcoin ATM installations across the globe recorded their biggest drop since 2019, falling 89.75% from December 2021’s 1,971 new installations.
Bitcoin miners, who are known for holding long-term, are beginning to sell their hoarded tokens to cover losses.
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