With the beginning of the election day in the U.S., Bitcoin regained its momentum and surged above $70,000 after the recent correction.
Bitcoin’s price surged by 2.7% in the past 24 hours and is currently trading over $70,000 with $42.9 billion in volume. The market cap now stands at $1.385 trillion.
The 1-day technical analysis shows very bullish santiment with the summary and moving averages pointing to “strong buy” with 16 and 14 signals, respectively, while oscillators remain in “neutral” at 8.
During the past 24 hours $224.95 million were liquidated from the crypto market ($133.21 in long positions and $91.74 million in shorts.)
Dogecoin was the biggest winner during this period, surging by 14.2% to $0.18 and currently has a market cap of almost $26 billion.
This uptick in the crypto market aligns with the ongoing presidential election in the United States. Many expect Trump’s potential win to boost prices, while others see Bitcoin surging irrespective of who wins.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.