Bitcoin had spent most of the weekend around $19,000but the absence of operations on Wall Street did not ultimately deter the bulls.
As Cointelegraph reported, the whales had expressed great interest at the levels just below $20,000, so there was a huge buying move.
The rallies come as a respite from what was a bad year for crypto miners. A nearly 60% year-to-date drop in the price of BTC has cut miners’ daily revenue by more than 70% from its November 2021 peak of $62 million.
Cryptocurrencies have been having a lousy year that is framed in the strong ups and downs of the world economy. Thus, with global inflation, the central banks responded, for the most part, with increases in interest rates that made the markets fall and put on the table the possibility of a recession.
Source: Ambito
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