**Investors Finally Relieved, Bitcoin Rebounds After a Week of Weakness**
The price of Bitcoin was pressured down to touch the level of US$89,000 after a massive sell-off in the crypto market. However, the situation began to change today, Sunday (22/12). Where Bitcoin successfully rebounded and is now traded around US$90,000, marking a recovery.
The catalyst for this increase in Bitcoin occurred after the Federal Reserve's (the Fed) rate cut adjustment and the Bank of Japan's (BoJ) tightening policy. Where, although US policies being tighter had temporarily pressured risk assets, Bitcoin benefited from the release of yen carry-trade and dwindling liquidity during the holidays that strengthened its movement.
Furthermore, CryptoQuant shows that exchange balances have reached a five-year low, while wallets holding more than 1,000 Bitcoins have added 218,570 Bitcoins since March.
