Crypto
Derivatives and institutional participation reshape bitcoin market as gradual waves replace sharp swings
Bitcoin has returned to around $70,000, the peak of the 2019 to 2022 cycle, unlike past bear markets that did not revisit prior highs. CoinDesk reported it has traded near $70,000 since early February, well below a suggested 2023 to 2025 bull-market peak above $126,000. The article says institutional participation and derivatives have helped curb extreme volatility, while anchoring bias may have supported demand near $70,000.
