Large bitcoin investors substantially increased their holdings as prices dipped below $60,000 in early Friday's panicky action on the crypto market

These influences include rising geopolitical tensions, higher interest rates for longer, reflation and ballooning national debts, the report said.<

Over $290 million in crypto liquidations occurred in 24 hours as bitcoin rebounded 5% to near $65K ahead of its halving event.

Cryptocurrency leader Bitcoin is in the limelight as Anthony Scaramucci, the founder of

Bitcoin's rally in the past six months will help cushion crypto miners from the effects of the 50% cut in their earned rewards, the report said.