“Bitcoin’s fundamentals and technicals have both been improving over the last few days.
Bitcoin has been trading around the $30,000 level for weeks now, defying predictions of a potential further decline but also struggling to gain upward momentum as the broader US market has also taken a beating.
“Bitcoin has stabilized over the past few weeks on improved short-term momentum,” Katie Stockton, co-founder of Fairlead Strategies, wrote in a note Friday.
On Friday, Japan became one of the first major economies to introduce a legal framework around stablecoins, following UST’s implosion.
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