After yesterday’s brief price slumps below $23,000, bitcoin has reversed its trajectory and reclaimed that level.
Most altcoins are also slightly in the green today. Solana is among the few exceptions following the latest hack that compromised over 7,000 wallets.Last week went unexpectedly well for the primary cryptocurrency, given the events that transpired in the US. Firstly, the Fed raised the interest rates by 75 basis points, which is usually a bearish sign for the crypto markets.
Later, it became known that the US had entered into a recession, at least according to the official meaning of the word. However, President Biden refused to admit this, which sent BTC’s price higher once again. This culminated in a surge to above $24,500 on July 30 – bitcoin’s highest price tag since June 13. Despite retracing slightly in the following hours, the asset still managed to