Market Wrap: Bitcoin Stabilizes Around $49K After Two Extremely Volatile Trading Days
There are signs some of the excessive leverage had been wrung out of the market, implying the potential for a fresh more to the upside, analysts said.
“Cash is king in times of distress, not bitcoin,” said one market watcher.
The largest cryptocurrency has failed to hold above $50,000 amid a downdraft in traditional markets.
Bitcoin started March nicely but whether it can match its previous winning streak is yet to be seen.
Bitcoin's bulls are taking over the market again.
Crypto market appears to be already looking past the harsh correction from earlier this week.