The world's largest cryptocurrency, Bitcoin, has been making a recovery move in recent hours.
The price recovery is thought to have come after Donald Trump’s meeting with Russian President Vladimir Putin and rumors that the war between Russia and Ukraine could end. The BTC price made a recovery move after it was announced that the talks between the two leaders were positive.
Due to today's inflation data coming in more negatively than expected, many risk assets, including Bitcoin, recorded sudden declines.
So how do analysts evaluate this recent rise in BTC prices? Cryptocurrency analyst il Capo describes this recovery in Bitcoin and other cryptocurrencies as a “bull trap.” According to the analyst, similar fake upward movements have been observed on the BTC chart for several days.
Donald Trump had a phone call with Putin today, and Trump said in a post on social media about the meeting that it was “long and productive.” It was reported that the leaders also agreed to visit each other’s countries. Trump criticized the previous administration’s financial support for Ukraine, arguing that it may not be being used for its intended purpose.
*This is not investment advice.
