Bitcoin has been bouncing between $10,000 and $10,500 over the past few days. Both buyers and sellers have been trying to assert dominance, resulting in multiple tests of both range boundaries. BTC finally broke above $10,500 just minutes ago. The leading cryptocurrency has had quite the history with $10,500. Bitcoin was rejected multiple times by that level over the past 12 months. Analysts are optimistic, but it is worth noting that this is a weekend rally. Weekend rallies often retrace due to the CME futures narrative. Bitcoin Breaks Above $10,500
Bitcoin is starting to wake up after consolidating in a $500 range for the past five days. The leading cryptocurrency just minutes ago crossed above $10,500 for the first time in many days in a $100 candle that came on the back of liquidations.
According to Skew.com, a crypto derivatives tracker, around $6 million was liquidated during Bitcoin’s move higher. This was only for BitMEX’s BTC market, meaning millions