Bitcoin's broader bias remains bullish with prices holding well above the 21-week SMA.
The largest cryptocurrency continues to claw back ground after last week suffering its biggest loss since March 2020.
The largest cryptocurrency was up more than 8% Monday, rebounding after its worst seven-day stretch since the coronavirus sell-off in March 2020.
Both bitcoin and stocks had been showing signs of weakness since the beginning of the week.
Big money continues to chase bitcoin on dips, blockchain data shows.
Bitcoin, now worth more than most U.S. corporations, first reached "dollar parity" 10 years ago.
The bank's analysts pointed to gold's much lower volatility.
“We are at all-time-highs territory [and] the market still has to make up its mind" about next resistance or supporting levels, says one broker.
De acuerdo a analistas, la criptomoneda necesitará una mayor cantidad de compras al contado para mantenerse por encima de esa marca
Bitcoin had been most-crowded trade in January as prices rose to a $40,000 record.
Analysts say more spot buying is needed to bring bitcoin over the $50,000 mark.
Lack of hedging demand for long-term put options shows institutions remain unconcerned by Monday's price drop.
The sudden pullback just short of a new $50,000 high surprised many investors. Here's what probably happened.
The market is bullish on both cryptocurrencies, for different reasons.
With all this bullish bitcoin activity, the ETH/BTC pair has gone bearish, a sign traders are selling ether for bitcoin.