A stream of bullish Bitcoin adoption news helped to push BTC price back above $37,000 but traders are unsure if the 20% move confirms a trend reversal.

“We are going to lead the shift to crypto and fintech in Mexico,” said one senator.

Altcoins moved higher while a lack of buy volume prevented Bitcoin and Ethereum price from breaking out after the completion of a bullish inverse head and shoulders pattern.

Strong hands accumulated Bitcoin throughout last week’s historic correction but BTC’s inability to reclaim the $40,000 level has some traders afraid of a dead cat bounce.