Market Wrap: Bitcoin Hits $16.2K; Uniswap Crosses $3B Locked

Market Wrap: Bitcoin Hits $16.2K; Uniswap Crosses $3B Locked


Bitcoin was gaining amid positive institutional and retail adoption signs as the amount of crypto locked in Uniswap signals DeFi continues to be more just than a fad.

Bitcoin (BTC) trading around $16,154 as of 21:00 UTC (4 p.m. ET). Gaining 2.9% over the previous 24 hours. Bitcoin’s 24-hour range: $15,454-$16,186 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.

Bitcoin trading on Bitstamp since Nov. 10.

Source: TradingView

Bitcoin was trending upward Thursday, continuing a direction that started Wednesday. The price per 1 BTC was able to hit as high as $16,186, according to CoinDesk 20 data. However, Guy Hirsch, managing director for U.S. at multi-asset brokerage eToro, cautions choppy waters might be ahead. 

“Bitcoin’s struggle to consolidate above the $16,000 price level can likely be attributed to a number of factors including profit taking and capital rotation into some of the small-cap

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