Bitcoin has shown resilience over the past week, holding firm above the newly conquered $11k level as cryptocurrency exchange OKEx suspends withdrawals, sending a tremor through the market.
Despite falling three percent as the news hit, Bitcoin soon bounced on boosted fundamentals: The soaring hashrate has once again hit all-time highs, and representatives from U.S. regulatory agencies have made positive comments about cryptocurrency.
Wall Street Recovers to End the Week
Earnings Season Kicks Off
As Bitcoin hovers confidently above $11,200, Ethereum is approaching the $400 milestone.
The two leading cryptocurrencies have both gained almost six percent over the week, pushing the market sentiment indicator towards greed as payments company Square adds 4,709 Bitcoin to its balance sheet and the dollar sinks at the possibility of another round of economic stimulus.
Reinforcing the bullish outlook, on-chain metrics show growing confidence in the Bitcoin network. …