Market Wrap: Bitcoin Hits $10.9K; Total BTC Locked in DeFi Passes 100K

Market Wrap: Bitcoin Hits $10.9K; Total BTC Locked in DeFi Passes 100K


Bitcoin is making gains not seen since early September; the amount of BTC locked in DeFi hits six figures.

Bitcoin (BTC) trading around $10,778 as of 20:00 UTC (4 p.m. EDT). Gaining 0.70% over the previous 24 hours.

  • Bitcoin’s 24-hour range: $10,252-$10,950
  • BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
  • Bitcoin trading on Coinbase since September 13. Source: TradingView

    Bitcoin was able to reach as high as $10,950 on spot exchanges such as Coinbase Tuesday before losing some steam, settling around $10,778 as of press time. 

    Read More: Two Charged With Duping Investors of $5M With Bogus Bitcoin Brokerage

    “BTC is making a strong attempt to break out of the recent $10,100 to $10,500 range,” said David Lifchitz, chief investment officer of quant firm ExoAlpha. “We’re just above $10,600 and testing $10,600-$10,800 long enough would position the next target to $11,000.”

    Bitcoin trading since the start of September. Source: TradingView

    Lifchitz cited factors other than just price as reasons to be optimistic about the world’s oldest cryptocurrency. “From a fundamental point of view,

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