Market manipulations nothing new to the crypto world. Large institutions buying the dip is. Firms like Morgan Stanley and Micro Strategy have been doing just that. They are not making what I would consider small purchases either. Reports are showing multiple purchases ranging fro 50 million to half a billion USD. Bitcoin dominance is up 5%. It looks like the market is primed for swing traders to margin trade against Bitcoin. My advice is not to trade in pairs that you would not be happy to keep. As the market has been quite unpredictable and has now entered new territory you could become stuck in a trade for long periods of time.
In other new it is no surprise that the World Bank is not willing to be helpful to El Salvador's adoption of Bitcoin. China is cracking down on Bitcoin mining. There is talk about China supposedly reinstating it's crypto ban. I am not quick to accept that narrative. The last time that news was being thrown about it was just FUD (Fear Uncertainty & Doubt). Other Banks however are the Bank of Israel has already tested a digital Shekel. France and other countries are not far behind bringing their currencies into the digital era. Other banks are meeting with crypto exchanges.
While history would tell us that we are in for a crypto winter as pro traders short the market to find the actual bottom. I am uncertain that we will see as long or drastic of a decline as we have seen in the past. NFTs (Non Fungible Tokens)are all over mainstream media. While crypto has had a rocky start to say the least. It looks like blockchain adoption and crypto markets are reaching the point of acknowledgment as a legitimate new technology.