Bitcoin’s Recovery: Is It a Sign of Hope or Another False Dawn?

Recent gains in Bitcoin’s price above $78,000 have offered some hope for bulls, but caution is needed. Technical signals suggest potential further declines are possible despite this short-term rebound. The rise in U.S.-China tensions and the devaluation of the yuan contribute to increased volatility, casting uncertainty over Bitcoin’s fragile recovery. Bitcoin has been inching upwards towards $80,000 after a significant downturn to a five-month low of $74,000. This rebound comes at a time…