Bitcoin Is Steady Despite Genesis Bankruptcy. Two Signs Traders Are Bullish.



Bitcoin


and other cryptocurrencies were steady Friday despite news that lender Genesis was filing for bankruptcy—the latest in a long line of crypto business failures. In fact, there are multiple signs that traders remain bullish after a recent rally.

The price of Bitcoin has risen 1% over the past 24 hours to just shy of $21,000. The largest digital asset has consolidated above the key $20,000 level—trading as high as near $21,500 in recent days—after rallying by more than 20% in just a week to the highest levels since crypto exchange FTX collapsed in November.

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