The cryptocurrency market shows subtle signs of rebounding on Wednesday after facing intense headwinds over the past few weeks, largely attributed to geopolitical tensions, macroeconomic uncertainty and risk-averse sentiment.
Ripple (XRP) is holding above the key $1.00 psychological support level at the time of writing on Tuesday, even as the market endures a protracted downturn that began in mid-June.
Bitcoin (BTC) price continues to trend downward below the $60,000 support zone after losing over 50% of its value since the $126,199 high in October. Bitcoin’s four-year cycle, measured from cycle tops to bottoms, suggests that four months of a bear market are still ahead.