Market Wrap: Bitcoin Breaks $34K as Ether Futures Interest Jumps $350M in a Day

Market Wrap: Bitcoin Breaks $34K as Ether Futures Interest Jumps $350M in a Day


Higher-than-average spot volume, even for the past month, is helping push bitcoin’s price upward at a time when traders are plowing into ether futures at a quick pace to open 2021.

Bitcoin (BTC) trading around $33,987 as of 21:00 UTC (4 p.m. ET). Gaining 8.9% over the previous 24 hours. Bitcoin’s 24-hour range: $29,986-$34,220 (CoinDesk 20) BTC well above its 10-hour and 50-hour moving averages on the hourly chart, a bullish signal for market technicians.

Bitcoin trading on Bitstamp since Jan. 2.

Source: TradingView

Bitcoin’s price made gains Tuesday after a four-hour sell-off was reversed around 06:00 UTC (1 a.m. ET). That led to a steady climb to as high as $34,220 as of press time. 

Read More: Bitcoin Bounces Back Above $31K After Monday’s Drop

Bitcoin has extended its already-steep uptrend to new all-time highs,” said Katie Stockton, a technical analyst for Fairlead Strategies. “The signs

Trending: Who Is In Possession Of Nancy Pelosi’s Laptop?

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Send this to a friend