Posted 4/10/2024, 9:00:00 PM
Bitcoin Recovers to $70K After Initial Drop; Outperforms Stocks and Gold Despite Broader Crypto Declines
- Bitcoin rebounded to $70K on Wednesday after initially dropping 4% due to hotter than expected US inflation data
- Bitcoin outperformed stocks and gold which saw sizable declines for the day
- Other major cryptocurrencies like Polkadot, Bitcoin Cash, Near, and Aptos saw 5-7% drops
- Uniswap's governance token plunged over 10% and received an enforcement notice from the SEC
- Analysts said bitcoin's rebound shows underlying demand and investors seeing dips as buying opportunities
