Crypto Mining

Bitcoin Current Price Over $21,000!

Bitcoin broke above $21,000 with the realization of its long-awaited short squeeze on September 9.

Bitcoin Current Price Over $21,000!

Bitcoin (BTC) broke above $21,000 with the realization of its long-awaited short squeeze on September 9.bitcoin usdt chart

Investment: BTC could see $25,000

According to Cointelegraph Markets Pro and TradingView data, the BTC/USD pair gained around 9 percent during the day. Rising to $21,270, the pair is trading around $21,039 as of the time of translation.

Bitcoin, which has been showing sharp downward movements for weeks, finally gave the bulls what they wanted.

Popular Twitter Account Il Capo of Crypto said that the upward move is likely to continue. "The bears are very weak here, I think they will continue to rise."

Il Capo of Crypto had long been waiting for a relief rally that would take Bitcoin to $23,000 before the downtrend resumed.

Michaël van de Poppe, founder and CEO of trading firm Eight, joined the other investor, saying, “It is very important that Bitcoin converts $20,000 into support.”

If that happens, the next stop looks like $23-25,000.

According to on-chain monitoring resource Coinglass, the total position value liquidated on exchanges exceeded $64 million during the day.

BTC liquidation chart. Source: Coinglass

On the other hand, the dollar is losing strength after the European Central Bank's (ECB) hiked interest rates.

Breaking the record of the last 20 years, the US Dollar Index (DXY) decreased to 108.6 points after a 1 percent depreciation as of the time of translation.

1-day candlestick chart of the US Dollar Index (DXY). Source: TradingView

Related Topics
Bitcoin Becomes Official Currency From African Country!

Bitcoin Becomes Official Currency From African Country!

The Central African Republic has officially adopted Bitcoin, becoming the second country in the world to have its own cryptocurrency. The ...

PlanB's Bold Predictions for Bitcoin's Price in 2024 and 2025

PlanB's Bold Predictions for Bitcoin's Price in 2024 and 2025

Bitcoin analyst PlanB predicts bull market starting in 2025 with prices reaching $32,000 in 2024 and $100,000 in 2025. Always do your own research ...

Bitcoin: Two Simultaneously Produced Blocks - Why?

Bitcoin: Two Simultaneously Produced Blocks - Why?

Bitcoin, in addition to being the world's most popular cryptocurrency, is also a decentralized digital currency that operates on a blockchain ...