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Cryptocurrencies:  6,269Markets:  24,788Market Cap:  $356,637,889,76024h Vol:  $76,437,882,194BTC Dominance:  60.5%
Market Cap:  $356,637,889,76024h Vol:  $76,437,882,194BTC Dominance:  60.5%Cryptocurrencies:  6,269Markets:  24,788

Bitcoin Just Printed a Textbook Reversal Signal After Surging to $11,800

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Bitcoin Just Printed a Textbook Reversal Signal After Surging to $11,800

NewsBTC1 week ago
Published on August 01, 2020 08:37 GMT+0edited on August 02, 2020 12:01 GMT+0

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Bitcoin has seen another explosive move in the past 24 hours. As of the time of this article’s writing, the leading cryptocurrency has pressed higher to $11,800 for the first time in approximately a year.

This means that on the week, BTC has gained around 20%. And in the past day alone, Bitcoin has gained 4% — the best one-day performance since the rally from the $10,000s to $11,500 on Monday.

Bitcoin’s latest leg higher has been marked by an influx of liquidations of cryptocurrency margin platforms. According to Skew.com, a crypto derivatives portal, more than $5.3 million worth of BitMEX shorts have been liquidated in the past alone. This adds to the dozens of millions more that have been liquidated in the past 72 hours as BTC has shot higher.

Although some expect BTC to …