Unlike Bitcoin and other free markets, the Chinese yuan market is fixed and somewhat controlled by the country’s central bank.
Bitcoin saw a sharp overnight rebound that allowed it to reclaim its position within the mid-$9,000 region. This came about after a period of weakness as it traded within the lower $9,000 region.
In just a day, Bitcoin will close the May’s price candle. Analysts say that this close will be crucial for indicating in which direction the cryptocurrency market heads next.
Ever since the peak of the 2018 crypto bull market, Bitcoin has been front and center for most investors.