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In a role reversal befitting these topsy-turvy times, Wall Street has recently seen more turbulence than the average for the top cryptocurrency.
Bitcoin may not be out of the woods yet, but prospects of another sudden price crash now look to have diminished.
While bitcoin looks set to prolong its recent bullish moves, those responsible for making new bitcoin have increased their selling.
The bitcoin market is looking pensive as global equities fail to respond positively to the U.S. Senate's approval of a massive coronavirus stimulus package.
Bitcoin has dropped back from levels near $7,000 despite the rapidly increasing scope of fiscal stimulus efforts in the US and across the globe.
Open interest in XBT/USD on BitMEX has crashed by over 50 percent from 115,000 BTC to 55,000 BTC over the past 12 days.
Bitcoin looks on track to test $7,000 soon, as the stock markets are rising with the Federal Reserve's open-ended easing plan.
The Federal Reserve has announced a quantitative easing package with no upper limit to support the U.S. economy amid the coronavirus crisis.
Bitcoin, the S&P 500 and the Dow Jones are staring at bearish chart patterns as coronavirus jitters across the markets fail to subside.