Bitcoin Price Surpasses $20,000 As Daily Short Crypto Liquidations Surpass $400 Million
BTC price action hits its highest levels since early October on the back of a broader rally in risky assets.
Market Update
Bitcoin (BTC) surged above $20,000 on October 25 as risk assets benefited from further weakness in the US dollar.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed that BTC/USD hit highs of $20,191 on Bitstamp.
The move was accompanied by a rise in US equities, themselves supported by the decline of the US dollar, which lost ground against major trading partner currencies on the day.
With that, Bitcoin saw its first trip above the $20,000 mark since October 7.
"Finally, volatility will set in", reacted Michaël van de Poppe, founder and CEO of the trading company Eight.
"Bitcoin is ready for this rescue run. Long and strong."
BTC/USD 1-Day Candle Chart ( Bitstamp ). Source: TradingViewCrypto trader and analyst Il Capo, meanwhile, has reported that BTC is outperforming altcoins in gains, but with no end in sight yet.< /p>
"There is fuel to continue", he tweeted...
BTC price action hits its highest levels since early October on the back of a broader rally in risky assets.
Market Update
Bitcoin (BTC) surged above $20,000 on October 25 as risk assets benefited from further weakness in the US dollar.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed that BTC/USD hit highs of $20,191 on Bitstamp.
The move was accompanied by a rise in US equities, themselves supported by the decline of the US dollar, which lost ground against major trading partner currencies on the day.
With that, Bitcoin saw its first trip above the $20,000 mark since October 7.
"Finally, volatility will set in", reacted Michaël van de Poppe, founder and CEO of the trading company Eight.
"Bitcoin is ready for this rescue run. Long and strong."
BTC/USD 1-Day Candle Chart ( Bitstamp ). Source: TradingViewCrypto trader and analyst Il Capo, meanwhile, has reported that BTC is outperforming altcoins in gains, but with no end in sight yet.< /p>
"There is fuel to continue", he tweeted...
What's Your Reaction?
![Three of ID's top PR executives quit ad firm Powerhouse [EXCLUSIVE]](https://variety.com/wp-content/uploads/2023/02/ID-PR-Logo.jpg?#){kind=logo}
