Bitcoin’s price made a come-back moving above the key resistance level of $84,000 after falling to a multi-month low of $78,200 on Friday.
Bitcoin’s rebound coincided with a recovery in U.S. equities, which pared back earlier losses. Nasdaq 100 gained 80 points while The Dow Jones index rose 165 points.
After news of BlackRock maintaining its bullish stance on Bitcoin this week, confidence in the crypto market rose pushing investors to maintain their hold on the cryptocurrency. BlackRock confirmed plans to allocate about 2% of its model portfolio assets to its IBIT ETF.
