Bitcoin Bounces Back to $62,000 After Recent Drop 🚀

Bitcoin recently bounced back above $62,000 after dropping below $50,000 on August 5, a day known as "Crypto Black Monday." The quick #recovery has led some traders to believe the dip was a "bear trap" meant to deceive short-sellers.

Market sentiment has shifted, with more traders now betting on further price increases. This positive outlook coincides with Morgan Stanley starting to recommend Bitcoin exchange-traded funds (#ETFs ) to its clients.

However, some analysts remain cautious, suggesting that Bitcoin might still experience further #declines before reaching new highs.

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