BTCUSD 11 Z9uooQ

Bitcoin Surpasses $40K Following Massive Volatility, Markets Add $80B Overnight (Market Watch)

Bitcoin reminded of its enhanced price fluctuations with a roller-coaster movement but has since reclaimed $40,000. Most altcoins are well in the green on a daily scale, with Ethereum charging towards $2,700.
Bitcoin Stands Above $40K
Aside from a few brief movements up and down, the past several days were quite calm for bitcoin as it stood around $39,000 for most of the time. However, it all changed in the past 24 hours.
The asset traded close to the aforementioned level before it suddenly skyrocketed by nearly $3,000 to almost $42,000. Yet, it dumped just as quickly and returned to $39,000, resulting in over $200 million worth of liquidations for over-leveraged traders.
Nevertheless, the bulls regained control over the market and pushed BTC north again. This time, the leg up was more gradual, but bitcoin still reclaimed $40,000. As of now, the cryptocurrency stands at around $40,500. Consequently, its market capitalization has gone well above $750 billion.
BTCUSD. Source: TradingView

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