Standard Chartered's head of digital asset research declared the crypto market has seen its cycle low, with Bitcoin's recent dip to $59,000 marking the bottom.
Bitcoin and the broader cryptocurrency market saw a positive shift, recovering from a volatile week as geopolitical tensions in the Middle East appeared to ease.
Bitcoin and Ethereum show signs of recovery despite a three-year high in inflation, suggesting potential shifts in investor sentiment amid looming restrictive monetary policies.
US inflation data aligned with forecasts, solidifying the Federal Reserve's restrictive policy outlook and causing a slight dip in Bitcoin's price.
Ethereum's value dipped below $1,600 following a significant Zcash vulnerability disclosure and Bitcoin's recent fall below the $60,000 mark.
MicroStrategy's Michael Saylor suggests Bitcoin's recent market correction is primarily due to investors reallocating funds towards the booming artificial intelligence sector.