Bulls Try To Recover $ 40,000 In Bitcoin

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Bitcoin (BTC) price has crossed the $ 35,000 resistance and manages to step into a new range that will see price trade between $ 38,000 and $ 40,000. Today’s recovery from the $ 34,000 level seems to invalidate the head and shoulders pattern on the 4-hour time frame and bearish charts. Recovering the $ 36,000 level as support is thought to help crush the devastating narrative of entering a new bear market, following a 26.5% drop in Bitcoin price this week and a loss of $ 200 billion in total cryptocurrency market value.

Despite this decline, financial advisors continue to develop a more positive outlook on Bitcoin, considered the best cryptocurrency, and the growing DeFi sector. The Currency Supervisory Office (OCC) ‘s latest announcement, which allows banks to process and store stablecoins, is interpreted by the industry as a “green light” as a whole.
Proof of this comes today with the first digital bank contract issuance to the custody provider Anchorage by the Currency Supervisor Office. According to Brian Brooks, Head of the Outgoing Currency Supervisory Office, finance’s online future seems inevitable.

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