Crypto market rebounds as Bitcoin recovers from Iran-Israel tensions
The crypto market also declined after the recent data have not been helpful, with inflation stalled well above the U.S. central bank's 2% target for the first quarter of the year.
However, Bitcoin was last 2% higher at $65,466 in Monday's trading, after falling below $62,000 on Sunday.
Other major crypto tokens such as Ethereum (4.9%), Solana (8.8%), Toncoin (15%), Dogecoin (4.7%), and Avalanche (5.3%) also surged.
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View Details»Edul Patel, CEO of Mudrex, said, «Bitcoin experienced a dip to $62,000 before recovering to $65,000 over the weekend due to heightened liquidations and escalating geopolitical tensions between Iran and Israel.»
«Bitcoin has been consolidating within the $60,000 to $73,000 range since the past few days. However, bulls are defending the $60,775 level. The immediate support of Bitcoin lies at the $64,500 level and the resistance is at the $67,900 level,» Edul added.
Meanwhile, CoinDCX Research Team, said, «With the Bitcoin halving approaching, we may see increased volatility in the market.»
The global
