Bitcoin Price Stabilizes After Sharp Rebound: Analysts Point to Positive Signs

Bitcoin experienced a significant rebound on Wednesday, surging nearly 8% after a dramatic dip. This recent surge follows a period of marked decline for the cryptocurrency, prompting analysts to express optimism about a potential stabilization phase. Bitfinex analysts attribute this positive turn in price to factors like extreme deleveraging and a decreasing reliance on short-term leverage, reducing the risk of a sudden market downturn.