Investing.com– Bitcoin’s price rose on Tuesday, extending a rebound in recent sessions as steep losses from last week saw bargain buyers step into cryptocurrency markets.
But Bitcoin’s rebound was limited by anticipation of key U.S. inflation data this week. Sustained capital outflows also showed sentiment towards crypto remained weak.
rose 3.4% to $56,715.3 by 01:1 ET (05:16 GMT).
Bitcoin nurses steep losses from last week
Crypto markets were nursing steep losses from the past week, amid a broader decline in risk-driven markets as traders grew more concerned over an economic slowdown.
This selldown saw Bitcoin sink as low as $52,000, although the token managed to recover over the past two sessions.
Bargain buying played a major role in supporting Bitcoin, as recent capital flow data showed institutional investors turned largely averse towards crypto.
