- Bitcoin exploded and touched the $ 55,000 area
- A BTC Whale buys $ 1.6 BTC in five minutes by buying orders
Bitcoin (BTC) has not stopped rising after reaching its highest level of $ 51,800 yesterday for the first time in a month, and has recently seen a sudden rise in its price, reaching $ 55,000.
Although $ 56,000 is a basic resistance level for BTC, anything is possible based on its mood. BTC is just $ 15 billion away from reaching $ 1 trillion in market value earlier this year.
BTC’s attitude clearly shows that the cows are arriving at the beginning of the month and are targeting the $ 56,000 area coin king and the trillion dollar market value.
The $ 55,000 level is touched after May 12 and brings a satisfying smile to the cows after such a hustle and bustle.
Bitcoin recovers after China crackdown
China is never cold with the crypto and bitcoin market and is always trying to overcome it. On the contrary, it has always failed. We can see an aggressive bull after the Chinese cryptocurrency crackdown, just as it happened in 2017.
According to a recent Glassnode analysis, miners have begun to accumulate BTC, resulting in less selling pressure, which has boosted market power.
The coin hit its highest level today at $ 55,555, beating the previous line of $ 53,000 reached by cows on September 5th. On September 6, the market fell and witnessed a change, returning the price to the $ 42,000- $ 46,000 area.
Futures are volatile due to strong volatility, but experts say the next target of $ 57,000 is not far off.
This is a true saying that whenever cows enter, there can be any purpose.
The sudden failure of Bitcoin surpassed CME Group Bitcoin futures, which were trading at $ 400 above the current price.
This situation clearly shows that BTC has fully recovered from the Chinese attack on the miners and the recent crackdown.
Whale buys $ 1.6 billion worth of BTC in 5 minutes
According to a recent analysis by market analyst Ki Yang Joo, a $ 1.6 billion BTC whale was bought through market orders in five minutes. The interest of institutional investors as well as large individual whales is showing.
According to expert analysis and speculation, November could bring BTC to its new ATH and set new dates.