The collapse of the $10 billion crypto hedge fund 3AC sent shockwaves through the cryptocurrency market in 2022.
Bitcoin is steadily trading above the key $95,000 psychological support despite one of the largest intraday selling events since 2022.
Bitcoin’s (BTC ) price staged a significant reversal after it briefly bottomed at an over one-week low of $94,726 on Feb. 9, Cointelegraph Markets Pro data shows.
BTC/USD, 1-month chart. Source: Cointelegraph
Read more,### Key Points Recap:
– **3AC Hedge Fund Collapse:** The $10 billion crypto hedge fund, 3AC, experienced a dramatic collapse in 2022, rattling the crypto market.
– **Bitcoin’s Resilience:** Despite a significant selling event, Bitcoin has maintained a value above the vital $95,000 mark.
– **Price Recovery:** Bitcoin witnessed a notable recovery as it rebounded from a low of $94,726 on February 9, according to Cointelegraph Markets Pro data.
### My Hot Take
Hold onto your digital hats, folks! Bitcoin is acting like that friend who, despite the chaos at the party (I’m looking at you, 3AC collapse), just keeps on dancing. The rollercoaster that is BTC dipped its toes below $95K but bounced back with the enthusiasm of a toddler on a sugar rush. This just goes to show, in the cryptoverse, it’s never a dull moment. Is BTC the Houdini of cryptocurrencies? Only time will tell.
### Final Thoughts
Sure, the crypto world has more ups and downs than a soap opera, but BTC’s ability to stay above water (or above $95K in this case) makes you wonder if it’s got an invisible life jacket. Keep your eyes peeled, and your wallets ready—crypto is still the wildest ride in the financial amusement park.
### Relevant Hashtags
– #BitcoinRecovery
– #CryptoMarket
– #3ACCollapse
– #BTCStability
