Bitcoin price reaches $21K as crypto market cap nears $1T


The gains keep coming for BTC and crypto for a second day as the U.S. dollar drops.


Bitcoin returned to $21,000 for the first time since September after the Oct. 26 Wall Street open as buyers solidified gains.


BTC bulls “eat” ask liquidity


Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit local highs of $21,012 on Bitstamp.

At the time of writing, the pair continued to explore territory out of reach for over six weeks.

Liquidations also kept flowing, with the past 24 hours delivering $750 million in liquidated positions on Bitcoin alone, according to data from Coinglass.


Cross-crypto liquidations totaled $1.43 billion, adding to what was already the highest tally in 2022 so far.

The impetus did not come from United States equities on the day, which were treading water as Bitcoin played catch-up while reducing overall risk-asset correlation.

The spotlight was instead on gold, which also saw a relief rally as the U.S. dollar struggled. The U.S. dollar index (DXY) circled its lowest levels since Sep. 20.


Source : undefined - October 27, 2022 logo


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