$BTC Bitcoin price has surged by about 6% over the past 24 hours, trading around 81,300 USD, driven by a short squeeze and improving technical momentum, lifting the price to its highest level in two weeks.
Bitcoin price movement today
Bitcoin is trading at about 81,330 USD at the time of writing, after it hit a daily high near 81,741 USD, according to the daily chart. The move continues a strong recovery from the 75,000–76,000 USD range and has wiped out losses recorded earlier in the week.
Over the past 24 hours, crypto assets have gained roughly 6%, with activity standing out more after a week that had been dominated by tighter monetary policy and uncertainty related to the U.S. crypto bill.
The recovery accelerated after BTC regained the True Market Mean (the real market average) near 76,660. This forced leveraged short-position traders to buy back Bitcoin as the price moved against their expectations, contributing to more than $250 million in short liquidations over the past day.
Bitcoin price movement today
Bitcoin is trading at about 81,330 USD at the time of writing, after it hit a daily high near 81,741 USD, according to the daily chart. The move continues a strong recovery from the 75,000–76,000 USD range and has wiped out losses recorded earlier in the week.
Over the past 24 hours, crypto assets have gained roughly 6%, with activity standing out more after a week that had been dominated by tighter monetary policy and uncertainty related to the U.S. crypto bill.
The recovery accelerated after BTC regained the True Market Mean (the real market average) near 76,660. This forced leveraged short-position traders to buy back Bitcoin as the price moved against their expectations, contributing to more than $250 million in short liquidations over the past day.
