The mood across the crypto market was gloomy last week, but the shoots of recovery could well be on the way.Â
The sentiment so far in September has largely languished in the “Fear” zone – stark contrast to August’s glorious run in "Extreme Greed". The price of bitcoin has largely reflected this, however, after a fairly sideways week in terms of price action, we did finally see an uptick on Monday that has now lasted into Tuesday. The question now is, will it continue?
 Elsewhere, ETH is leading the top 3 this week, after a brutal drop of 25% last week. The uncertainty in the stock market has also faded since last week, although market participants are still waiting in anticipation for Jerome Powell’s speech this week. This could very likely influence both the stock market and the crypto market.
After a tumultuous couple of weeks for BTC that saw a strong retrace from its yearly high of roughly $12,000 down to $10,000, the bulls seem to be starting to pick up momentum again. BTC managed to find support and hold somewhat steady – trading range bound in the $9,800 to $10,600 range. There seems to be enough buying power to hold off the downward pressure - at least for now - and BTC has showed some short-term upward momentum over the last couple of days to push above the previously-mentioned range and drive from $10,200 to just short of the $11,000 mark (at time of writing).
Very good sir