Bitcoin's bull market continues in full force as the asset shot up and above $60,000 for the first time since November 2021, when it peaked at $69,000.
Its dominance over altcoins has also increased in recent days, exceeding 50% on CoinGecko after falling to 48% last week.
BTCUSD. Source: TradingView
CryptoPotato reported today on BTC's recent moves, which included a massive increase from $51,000 to $59,000 in just two days.
However, this did not stop the primary cryptocurrency from rising even higher. A few minutes ago, the asset shot up by another one and a half thousand dollars, rising above $60,000 for the first time since the end of November 2021.
Currently, BTC remains above $60,000 after hitting a multi-year high of $60,600. As expected, this significant increase has completely changed the market sentiment as investors have now become extremely greedy.
With the halving imminent and BTC's historical performance after previous halvings, the community continues to speculate on how high the cryptocurrency will rise during the current surge. Just yesterday, experienced trader Peter Brandt changed his forecast to $200,000.
Bitcoin's dominance has also skyrocketed in recent days, to 50.3% on CoinGecko and 52.7% on CoinMarketCap. Recall that just last week the metric had dropped to 48% for the former and 49.9% for the latter.
CoinGlass data shows that the total value of positions liquidated daily rose to $315 million, the majority of which came from short positions. About 100,000 traders were liquidated, and the largest position was in Bitmex – worth $8.3 million.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.