After briefly approaching $20,000, Bitcoin is back above $21,000 with the total crypto market value surpassing the $900 billion mark.
While many analysts speculated that Wednesday’s low could be the bottom of the cycle, others have warned that more volatility could be on the way.
BTC remains over 70 percent below its all-time high set in November 2021.
The entire crypto market is valued at around $909 billion as leading cryptocurrencies including Ethereum (ETH), Cardano (ADA) and Solana (SOL) have fallen over 20-30 percent in price over the past week.
Major platforms like Celsius and Binance faced operational issues this week, which they blamed on an influx of investors liquidating their assets.
Crypto exchange Coinbase has also announced that it will lay off over 1,000 employees after previously withdrawing job offers. However, Binance has announced plans to hire 2,000 more employees.