The crypto market is facing continuous negative news and sentiment. However, Bitcoin bulls are pushing the price towards a new uptrend, and the market is showing signs of recovery. Inflation has increased slightly more than expected and the SEC is going after digital assets market maker CumberlandDRW, which will keep the lid on the Bitcoin price and the crypto market in general. The S&P 500 is making new all-time highs, and gold and silver are spiking.
The crypto market is following suit, although it is in a lagging manner so far. Bitcoin is still within its bull flag and looks ready to launch into the next stage of its bull market. Monetary easing by central banks will flood markets and Bitcoin is likely to thrive in such an environment. The asset is outside of any government control and is scarcer than any other asset, making it likely to lead the next rally in assets.