After last week’s massive correction, which culminated in an 18-month low at $17,500 on Sunday, the bulls have been trying to recover some of BTC’s lost ground. This resulted in a jump to $21,500 a few days ago. However, bitcoin failed there and even dipped below $20,000 after Jerome Powell – the Chairman of the Federal Reserve – reaffirmed the central bank’s plans to continue raising interest rates in desperate attempts to fight the skyrocketing inflation. Monitoring Desk Nevertheless, BTC recovered quickly to its sub-$20,000 ride and increased above it yesterday. The past 24 hours brought another leg up, and the asset currently sits just inches away from $21,000. Consequently, its market cap has neared $400b once again, but its dominance has declined to below 43pc.
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