Analysts Remain Pessimistic Despite Current Rebound; Magic Eden Raises $130M
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On Tuesday, the broader crypto market rose slightly alongside the strong rebound of the U.S. stocks after last week's rout. BTC gained ground for a third consecutive day, and managed to find support above the $21k handle. However, the largest cryptocurrency by market cap saw a slight drop in the early hours of Wednesday (Asian trading hours), and has been consolidating near the $20.3k mark after posting a marginal gain over the last 24 hours. BTC is now facing a major resistance near the $21k to $21.2k zone. Failure to move above this resistance zone would likely send BTC back down to retest support in the $20k region.