Bitcoin Price Prediction as BTC Spikes Into the Green – Time to Buy?

cryptonews.com:

Bitcoin, the world's largest and most popular digital token, has recovered slightly above the $17,000 mark, halting its previous long declines. Bitcoin has been falling in value over the last seven days due to FTX's bankruptcy, which has harmed the cryptocurrency market. BTC dropped to $15,872.94 before rising to a high of $17,200.

However, the recent BTC recovery could be attributed to improving crypto market sentiment, which aids major cryptocurrencies in regaining traction. The global market capitalization of cryptocurrencies has increased by more than 4% to $843 billion, according to Coinmarketcap. 

The good news is that Binance was planning to launch a "relief fund" to assist cash-strapped crypto firms in fueling the rise in major cryptocurrency prices. Meanwhile, the stronger-than-expected US inflation data was viewed as another important factor that boosted the price of Bitcoin.

Binance is establishing an industry recovery fund to support otherwise sound projects that are experiencing liquidity issues to mitigate the negative effects of FTX. 

Changpeng Zhao, the CEO of the world's largest "exchange," tweeted in the early hours of Monday, the 14th. The company stated that more information would be provided shortly.

Since the start of the day, the global crypto market has been sending mixed signals, indicating that it is a slow day for cryptocurrencies. Following a few extremely tense days due to the FTX bankruptcy, the market hardly records significant entry or exit moves and remains cautious.

While Ethereum (ETH) is over $1,250 and has gained less than 0.50% in the last 24 hours, Bitcoin (BTC) has traded virtually flat and is still close to $17,000. The collapse of Sam Bankman-exchange, Fried's, which is currently