Beware: Bullish Bitcoin Case Could Be Due To CFTC Scramble

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A new narrative has suddenly spread across the crypto market potentially presenting a bullish case behind Bitcoin’s recent resiliency. The reason? A possible retail buying frenzy in China spurred by the Chinese government themselves. While the idea is plausible, and the crypto asset failing to return under $10,000 could back up the theory, analysts could be overlooking another clear reason for a sudden sharp increase in non-zero BTC wallets. Respected Bitcoin Analyst Sheds Light On Bullish Case From China Last week, a triple threat of negative news should have shocked the crypto market, but instead, it barely dented the price of Bitcoin. In the past, news that the CTO of BitMEX was arrested and the CFTC was targeting the popular derivatives exchange would have been enough to tank the price per BTC. Instead, Bitcoin is now trading higher today than where the tiny initial selloff took it at first. Market…

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