Bitcoin Soars to $61,000 – Crypto Market in the Green

Bitcoin and the crypto market as a whole experienced a swift recovery this past day, with most prices being in the green.

Bitcoin (BTC) managed to claim the $61,000 mark after a 5.5% surge in the past 24 hours and 7% on the weekly chart. Just this morning Bitcoin was trading at $57,460. During this past day the trading volume of the number one cryptocurrency reached $34.36 billion.

The total liquidations in the past 24 hours amounted to $123.1 million ($49.93 million in long positions, and $72.24 million in shorts) and Bitcoin accounted for $46.93 million, as per data from CoinGlass.

The 1-day technical analysis from TradingView also seems rather bullish with the summary and oscillators showing “buy” at 14 and 2, respectively, while the moving averages show “strong buy” at 12.

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Ethereum (ETH) soared to $2,380 after a 4% surge on the 24-hour chart and has a trading volume of around $15.3 billion.

The biggest winners amongst the altcoins were Celestia (TIA) and Immutable X (IMX). TIA reached $5.2 after a 15.75% price jump in the past 24 hours (and 24.3% in the past 7 days), while IMX soared by 14.75% in the past day, reaching $1.42.

The total cryptocurrency market cap reached $2.11 trillion after a 4.32% surge.

Today was also the first day in three weeks that BlackRock’s Bitcoin ETF registered positive inflows (as well as all the other spot BTC ETFs).

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.