Bitcoin briefly surpassed $112,000 in a sign of recovery after a volatile week, prompting one analyst to say the cryptocurrency was still in an uptrend.
A Bitcoin analyst has argued that Bitcoin is still in a bull market as it briefly recovered to over $112,000 on Monday after a week of major volatility.
Bitcoin (BTC) has struggled to gain over the past week as analysts said investors were showing signs of exhaustion, with its sudden drop last week resulting in two major liquidation events across the wider crypto market.
Bitcoin hit a 24-hour high of $112,293 in early trading on Monday, surpassing $112,000 for the first time since sharply falling on Thursday. It is currently trading at $111,835, according to CoinGecko.
