Market Wrap: Bitcoin Passes $10.7K; Ethereum Gas Usage Hits Record September Highs

Market Wrap: Bitcoin Passes $10.7K; Ethereum Gas Usage Hits Record September Highs


Bitcoin is making gains Monday and Ethereum usage is hitting record highs in September.

Bitcoin (BTC) trading around $10,669 as of 20:00 UTC (4 p.m. ET). Gaining 3.4% over the previous 24 hours.

  • Bitcoin’s 24-hour range: $10,250-$10,759
  • BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
  • Bitcoin trading on Coinbase since September 12. Source: TradingView

    The price of bitcoin hit as high as $10,759 on spot exchanges such as Coinbase Monday. That level has not been seen since Sept. 3 and the cryptocurrency is now heading into bullish territory. 

    “The trend is indeed higher,” said Darius Sit, managing partner of quant firm QCP Capital. 

    Read More: Bitcoin’s Jump to $10.7K Ends 10-Day Sideways Trend

    Buy liquidations, the crypto equivalent of a margin call that wipes out short-sellers on derivatives exchanges such as BitMEX seemed to be helping to push bitcoin’s price up. A total of $19 million buy liquidations were more than double the $9.1 million in sell liquidations over the weekend and into Monday on BitMEX, helping fuel the price upswing. 

    Liquidations on

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