After a significant decline in most altcoins following Bitcoin’s dip of over 3% to $64,000, support was found as Bitcoin rebounded to $65,500. Although Bitcoin appears slightly bearish on shorter time frames, it is performing well on weekly charts, indicating that the bull market is still ongoing. Bitcoin’s dominance also remains steady at around 55%.
The reversal was likely triggered by news from Ethereum developer Consensys that the US Securities and Exchange Commission is ending its investigation into whether ETH is a security and if sales of ETH constitute security transactions.
