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.
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%.
Metaplanet is aggressively expanding its Bitcoin holdings through an unconventional $5.4 billion capital raise, positioning itself as a leading BTC proxy in Asia.
BlueBird Mining Ventures, a London-listed firm traditionally focused on gold, is making headlines after announcing it will liquidate its gold reserves and begin accumulating Bitcoin as a treasury asset.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.