Bitcoin Breaks Past $61,000, Boosting Investor Confidence

Bitcoin and the cryptocurrency market are showing signs of recovery from the recent price corrections, boosting investor confidence.

Earlier Bitcoin broke the $60,000 barrier after the news about an assassination attempt on Donald Trump and the resurgence seems to be gaining steam. Just moments ago BTC briefly reached the $61,000 price mark.

At the time of writing Bitcoin retraced to $60,775 after a 3.86% surge in the past 24 hours with a trading volume of around $22.6 billion. The flagship cryptocurrency is up 8.35% on the weekly chart.

During the past day $100.7 million were liquidated from the crypto market – $29.13 million in long positions and $71.57 million in short positions.

READ MORE:

From Cash to Crypto: Companies Fuel Stock Surge with Bitcoin

Proof for the bullish santiment can be found in the 1-day technical analysis from TradingView. The summary, moving averages and oscillators all point to “buy” with 10, 8 and 2 signals, respectively.

The recent selling preassure seems to have calmed down after the German government’s wallet (BKA) seems to have finished with its liquidation.

The biggest gainer in the past 24 hours is Mog Coin (MOG) after a 15.2% surge and a trading volume of $40.79 million. On the weekly chart the altcoin’s price jumped more than 46%.

Alexander Stefanov