Binance News: Bitcoin in Oversold Zone Shows Signs of Recovery, But Will It Rebound to $100,000?

Recent developments in the cryptocurrency market have brought Bitcoin (BTC) into the spotlight, with the top digital asset experiencing a significant price correction. However, despite the sell-off, there are signs of recovery in the market, raising questions about a potential rebound.

Bitcoin In An Oversold Zone, Is a $100,000 Rebound Imminent?

The Bitcoin (BTC) price correction has taken a toll on traders, leading to massive sales. The slip below $80k heightened sell pressure, with analysts flagging its movement into oversold territory. At the time of writing, the top crypto exchanges’ hands are at $83,070, a slight 1% gain in the last 24 hours. The wider market also showed recovery signs following weeks in the doldrums. This year, Bitcoin tapped an all-time high above $108k, with an expected uptick in institutional demand. However, this bull frenzy was short-lived due to US trade wars and a subsequent decline in U.S. tech stocks. The asset’s trading over 20% below the all-time highs weakened sentiments amid bulls’ quest for a recovery.

Binance’s CZ Criticizes Bloomberg & WSJ for ‘Baseless’ FUD Attacks

Binance CEO CZ has slammed both the Wall Street Journal (WSJ) and Bloomberg for publishing articles against him that he considers as ’baseless hit pieces’ spreading FUD (Fear, Uncertainty, and Doubt). He particularly pointed out a recent Bloomberg article that admitted to being speculative and lacking material substance. This isn’t the first time CZ has clashed with Bloomberg; in 2022, he sued the media house for labeling his activities as a Ponzi scheme.