PayPal has announced a cryptocurrency sweepstakes offering Bitcoin prizes to 
customers in the United States, the company stated.

PayPal launches Bitcoin sweepstakes for US customers through December

Bitcoin’s (BTC) latest upward move arrives at a time when confidence in the 
market remains uncertain, with many traders unsure whether the slight price 
recovery marks early strength or another temporary bounce. With last week’s 
pullback still fresh, a crypto analyst argues that most traders may label the 
recent recovery a dead cat bounce. However, he believes the narrative is 
misleading and predicts that Bitcoin’s rebound this week may be setting the 
stage for a stronger rally. Why The Bitcoin Price Recovery Is Not A Dead Cat 
Bounce Market analyst and founder of The House of Crypto, Peter Anthony, has 
released a new technical analysis of Bitcoin that challenges the prevailing 
bearish sentiment among traders. In his post on X, Anthony stated that the 
repeated claims of a dead cat bounce are part of a recurring pattern that has 
appeared at multiple stages of previous Bitcoin price recoveries. Related 
Reading: XRP Has Just Flashed ‘The Real Signal’, Analyst Reveals Where Price 
Is Headed He explained that market sentiments have swung so far into fear that 
many traders may have already locked in their worst losses just as the market 
began to recover. According to his analysis, last week’s BTC sell-off and 
price crash prompted many participants to exit their positions near the 
bottom. Now that the cryptocurrency is recovering, the analyst believes those 
same traders will hesitate to re-enter the market, convinced that the recent 
rebound is nothing more than a dead cat bounce. In his chart, Anthony 
highlighted several instances in the past when similar skepticism emerged 
after Bitcoin continued trending higher following a downturn. The analyst 
expects this pessimistic behavior to persist, stating that traders may 
continue labeling every upward push a dead cat bounce until BTC reaches 
$100,000 and beyond. This suggests that investors might interpret each step 
higher as a warning sign that the price rally is only temporary and bound to 
fail. While he believes the underlying trend is bullish, Anthony has 
acknowledged that a correction could still emerge as Bitcoin approaches 
previous highs. However, he reassures that the routine pullback would not 
negate the broader recovery underway. The analyst’s report indicates that the 
dead cat bounce narrative will prove to be a false signal. He predicts that 
disbelief in the market will eventually give way to Fear of Missing Out (FOMO) 
once Bitcoin decisively moves above $115,000. At that point, Anthony forecasts 
that many traders who sold during the downturn will scramble to buy back in at 
higher levels, completing a cycle of selling low and buying high. BTC Could 
Hit $115,000 Before Skeptics Turn Bullish In a follow-up post, Anthony issued 
a sharp critique of the emotional trading patterns and bearish sentiment 
dominating the crypto market. According to him, many of these traders who 
insist the Bitcoin rally has ended will continue to call every upward move a 
dead cat bounce, even as the price advances. Related Reading: Attack On 
Cardano Founder Leads To Network Halt, What Really Happened? By the time 
Bitcoin hits $115,000, the analyst expects investor sentiment to shift 
abruptly, triggering a late surge of bullishness from traders who had doubted 
the initial recovery. Anthony argues that these sudden changes in viewpoint 
will have little to do with careful analysis and everything to do with 
watching the chart move and reacting afterward. Featured image created with 
Shedevrum, chart from Tradingview.com

Bitcoin Dead Cat Bounce: Analyst Reveals What To Expect As Price Recovers

A recent analysis shed light on another correlation between the world’s 
largest cryptocurrency and stablecoin by market capitalization.

Bitcoin shows ‘strong negative correlation’ with USDt activity: Glassnode

On-chain money market funds have grown nearly tenfold since 2023, but the Bank 
for International Settlements warns their adoption brings new liquidity and 
contagion risks.

Tokenized money market funds surge to $9B, BIS warns of new risks

Crypto exchange Bybit Ltd. has launched a fully regulated peer-to-peer trading 
platform in Kazakhstan, the company announced.

Cryptocurrency price in DKK