As investors continued to mull over the most recent inflation figures and lingering macroeconomic uncertainties; most crypto assets breathed heavily throughout the weekend following sharp price decline.
The flagship crypto on the daily chart was still down by around 13% week to date, its lowest weekly performance since mid-August. Recently, Bitcoin was up more than 1% for the day and was trading at around $21.5K.
At one time, the largest cryptocurrency by market capitalization fell by more than 9%. It came after an unexpectedly poor inflation report from Germany, the largest economy in Europe by GDP, and fresh worries about the rate at which interest rates are rising in the United States.
Investors, who were already on edge due to market declines in the US housing sector, became even more so. But on-chain signs imply that Bitcoin’s correction phase could be coming to a close.