The gains for BTC and crypto continue for a second day as the US dollar falls.
Bitcoin (BTCtickers down $20,803) returned to $21,000 after October for the first time since September 26. Wall Street opens as buyers solidify gains.
BTC Bulls “Eat” Calls for Liquidity
Data from Cointelegraph Markets professional and TradingView followed BTC/USD because it hit native highs of $21,012 on Bitstamp. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit local highs of $21,012 on Bitstamp. At writing, the pair continued to explore out-of-reach areas for more than six weeks. Liquidations have also continued to flow, with the last 24 hours alone delivering $750 million in liquidated positions in Bitcoin, according to data from Coinglass. Cross-crypto settlements totaled $1.43 billion, adding to the highest number in 2022.
Impetus on the day did not come from US stocks, which received a boost as Bitcoin rallied and lowered the overall risk-asset correlation dollar fought. The dollar (DXY) index hit its lowest level since September 20.
When tracking the order book on the most significant global exchange, Binance, analytics platform Material Indicators noticed that the liquidity of requests was increasing. asks if BTC bulls got some help as liquidity supply and demand blocks adjusted higher,” he wrote in part of a Twitter update. $21,000 formed a critical level for some analysts, including Il Capo de Crypto, who previously predicted the market would pull back around at this point to target macro bottoms again. Colleague and analyst Rekt Capital also noted that Bitcoin was not out of the woods when it came down from all-time highs.
Crypto market cap eyes critical milestone.
Beyond Bitcoin, there was also good news for the crypto markets. The total crypto market cap declined significantly over the year and was within 5% of the $1 trillion mark on the day.” “Up 2.5% today,” responded David Gokhstein, Founder of von Gokhstein Euphoria among market participants.