US Stock Market
Bitcoin rebounds over $41K after painting a ‘bullish hammer’ — Can BTC hit $64K next?
Bitcoin (BTC) rallied above $41,000 on Feb. 28 in a new sign of buying sentiment returning after last week’s brutal selloff across the risk-on markets, including the S&P 500. BTC’s price jumped by over 9% to reach $41,300, in part, as traders reacted to the ongoing development in the Russia-Ukraine crisis. In doing so, the cryptocurrency briefly broke its correlation with the U.S. stock market indexes to perform more like safe-haven gold, whose price also went higher in early trading on Feb. 28. BTC/USD versus XAUUSD and S&P 500 daily price chart. Source: TradingView Bitcoin downtrend exhausting — analyst Johal Miles, an independent market analyst, spotted “significant buying pressure” in the market, adding that its downtrend might be heading towards exhaust...
