$BTC Bitcoin price rebounded about 6% over the past 24 hours to trade near $81,300, with a short squeeze and improving technical momentum carrying the price to its highest level in two weeks.
Bitcoin price action today
Bitcoin price traded at approximately $81,330 at the time of writing after reaching an intraday high near $81,741, according to the daily chart. The move extended a sharp recovery from the $75,000–$76,000 area and erased the losses recorded earlier in the week.
The cryptocurrency gained roughly 6% over 24 hours, outperforming after a week dominated by tighter monetary policy and uncertainty surrounding U.S. crypto legislation.
The rebound accelerated after BTC reclaimed its True Market Mean near $76,660. The move forced traders holding leveraged short positions to buy back Bitcoin as prices moved against them, contributing to more than $250 million in short liquidations over the past day.
Bitcoin price action today
Bitcoin price traded at approximately $81,330 at the time of writing after reaching an intraday high near $81,741, according to the daily chart. The move extended a sharp recovery from the $75,000–$76,000 area and erased the losses recorded earlier in the week.
The cryptocurrency gained roughly 6% over 24 hours, outperforming after a week dominated by tighter monetary policy and uncertainty surrounding U.S. crypto legislation.
The rebound accelerated after BTC reclaimed its True Market Mean near $76,660. The move forced traders holding leveraged short positions to buy back Bitcoin as prices moved against them, contributing to more than $250 million in short liquidations over the past day.
