Bitcoin climbs Friday, but risks of further drops remain

Bitcoin and other cryptocurrency markets rebounded on Friday after hitting lows not seen in years. Bitcoin has climbed back over $70,300 following yesterday's crash, but it remains unclear whether the worst is behind the market. Early investor Michael Terpin warned of more volatility, saying, "Most likely we will have a bounce back over $80k before the final plunge, exhausting weary ETF investors into capitulation, despite how oversold we are right now." He also noted "really strong buying resistance at $65k and $60k" and warned that if those supports break, "price could drop all the way to $45k." A CryptoQuant analysis urged caution, noting whales "account for a disproportionately large share of total deposits" and that this behavior "typically signals that whales are aggressively moving funds onto the exchange, a precursor often associated with heavy selling (dumping) or hedging activities." Allen Ding, head of Bitfire Research, said a rebound is "likely to be constrained by the pace of institutional capital returning and the unwind