Market Wrap: Cryptos Stabilize, Analysts Expect Bitcoin Short Squeeze

Posted on by American Coins & Gold

Market Wrap: Cryptos Stabilize, Analysts Expect Bitcoin Short Squeeze
Cryptocurrencies are starting to stabilize after falling in January, and some analysts expect prices to recover this month, especially as several alternative cryptocurrencies (altcoins) outperformed bitcoin over the past week.Bitcoin was roughly flat over the past 24 hours, versus a 2% gain in ether (ETH) and a 10% gain in SOL over the same period. Metaverse tokens such as MANA and SAND failed to sustain Monday’s rally as both tokens declined as much as 5% over the past 24 hours.On Tuesday, Indian Finance Minister Nirmala Sitharaman announced a 30% tax on any income from the transfer of virtual digital assets,…