Bitcoin surged above $71,000 for the first time since June, driven by a massive short squeeze that liquidated about $3 billion in bearish bets. This breakout ended a six-week period of low volatility and narrow trading between $62,000 and $66,900. The rally was further supported by the US Treasury's plan to buy more long-term bonds, lowering yields and boosting risk appetite, alongside renewed political support for clearer crypto regulations. The key question now is whether fresh demand can sustain prices above $70,000 or if the surge is just a short-covering event.
Cryptocurrency markets experienced notable gains, with Bitcoin rising to $72,658, up 6%, and Ethereum increasing by 11.7% to $2,338.79. Other altcoins like XRP and Dogecoin also saw significant jumps, reflecting renewed investor interest and positive...
Peter Brandt, a well-known futures trader, reversed his bearish stance and bought Bitcoin following a breakout from a rare inverted head-and-shoulders chart pattern. This technical breakout ended a prolonged downtrend and pushed Bitcoin's price above...
Bitcoin jumped past $72,000 and Ethereum rose to about $2,300, marking their best single-day gains in months driven by $706 million in combined ETF inflows and a $2.7 billion short squeeze. The surge was fueled by strong institutional demand as US re...
Shiba Inu (SHIB) gained about 7% during a broad crypto market rally, trading around $0.0000047 and recovering from recent lows. However, it underperformed major cryptocurrencies such as Ethereum, which surged 18%, and Bitcoin, which also climbed shar...
The US Federal Reserve intervened by purchasing long-dated treasury bonds to curb rising bond yields, which triggered a strong positive reaction in financial markets. Bitcoin rallied 12%, breaking key resistance levels and showing signs of a potentia...
