Bitcoin Climbs Higher Amid Reduced Selling Pressure

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Bitcoin showed signs of recovery after nearing $82,000 on Friday, with analysts noting easing selling pressure and rising Fed rate cut expectations.

Crypto market analysts are confident that Bitcoin’s recovery could continue as the cryptocurrency has begun to move higher since its bottom at just above $82,000 on Friday.

Tech stocks and crypto markets dumped over the past two weeks “because of the market flip-flopping on expectations for a rate cut,” Capriole Fund founder Charles Edwards posted to X on Monday.

“As the market reverts, expect it will carry Bitcoin somewhat higher,” he added.

Analysts at wealth manager Swissblock added that Bitcoin has taken its first real step toward forming a bottom.

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