Bitcoin price has now surpassed the Terra-LUNA crisis level, touching a high of $37,150 on Thursday. BTC price retraces after hitting a high, with the price now moving near the $36,700 level as a result of shorts liquidation in the last 24 hours. In fact, Bitcoin is now only halfway away from reclaiming the 2021 high of $69,000, which analysts predict to happen next year.
Bitcoin Price Reaches $37,000
Bitcoin has completed its full recovery to the Terra-Luna crisis level exactly a year after the Sam Bankman-Fried’s exchange FTX filed for bankruptcy.
“With Bitcoin trading back above the level when the Terra stablecoin imploded, crypto traders have officially moved on from those psychological scars,” said Markus Thielen, head of research at Matrixport.
The crypto market has to overcome the steepest monetary tightening by the U.S. Federal Reserve in four decades, stringent industry regulations, and heightened scrutiny.
Bitcoin saw upside moves during the Santa Claus rally earlier th
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