Surge in Large-Sized BTC Transactions; Meta Opens Brick-and-Mortar Metaverse Store
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On Monday, the broader crypto market enjoyed a swift recovery from the past few days of red in spite of the additional macroeconomic risks that had surfaced in recent days due to China's latest COVID outbreak, as well as the impending global recession. BTC managed to climb back to the $40k psychological level after rising by 3.7% in the last 24 hours. As of the time of writing, the largest cryptocurrency by market cap has broken above the bearish trendline on the hourly chart, and is poised to make a charge towards the overhead hurdles within the $40.8k to $41k zone. However, a failure to break above said levels may trigger further downside corrections to the $40k region.