Bitcoin successfully broke through the $69,000 level after experiencing significant price fluctuations last week.
Last week, two major factors led to Bitcoin reaching $66,000: rumors of the U.S. government investigating Tether and Israel’s attack on Iran’s capital.
Despite the market downturn, Bitcoin has surged by 2.36% in the past 24 hours, reaching $69,000, indicating a potential trend reversal.
During this period, $100.73 million was liquidated from the cryptocurrency market, with $43.04 million from long positions and $57.69 million from short positions.
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An analyst predicts a slower surge in liquidity by 2025 and discusses its implications for the markets and Bitcoin.
The 1-day technical analysis from TradingView also indicates a bullish sentiment in the cryptocurrency market. The summary and moving averages suggest a “strong buy” at 17 and 14, respectively, while oscillators show a “buy” at 2.
At the time of writing, BTC has retraced to around $68,600.
Bitcoin Soars to 69000 Amidst Recent Market Turbulence 