January 20, 2023

Bitcoin Is Steady Despite Genesis Bankruptcy. Two Signs Traders Are Bullish.

Bitcoin

and other cryptocurrencies were steady Friday despite news that lender Genesis was filing for bankruptcy—the latest in a long line of crypto business failures. In fact, there are multiple signs that traders remain bullish after a recent rally.

The price of Bitcoin haas risen 1% over the past 24 hours to just shy of $21,000. The largest digital asset has consolidated above the key $20,000 level—trading as high as near $21,500 in recent days—after rallying by more than 20% in just a week to the highest levels since crypto exchange FTX collapsed in November, rattling traders.

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