Bitcoin (BTC) broke above the $7,000 range for the first time since August 7, after touching a low of below $6,000 two weeks ago. Still, the BTC remains depressed, sinking from levels above $8,000 at the end of July.
The most recent BTC recovery has been associated with a series of interventions by the Tether treasury wallet, in which USDT tokens were sent to Bitfinex, boosting trading and prices. However, a recent report by blockchain research firm Chainalysis claims that USDT is no longer able to have a major impact on the wider crypto market.
Hence, the market sentiment shows a warming up, after what turned out to be a longer than expected bear market. A price recovery failed to materialize in July, as some traders hoped.
The current BTC price is still seen as fund...
This article appeared first on Cryptovest
