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Bitcoin post biggest daily gain since November 5, 2020

 

Bitcoin traded at $37,422.2 up 10.05% on the day, amassing the largest one-day percentage gain since November 5, 2020.
What you should know: Such gains pushed Bitcoin’s market value to $697 billion, or 68.98% of the total crypto market value. At its highest, Bitcoin’s market value was $759 billion.

Bitcoin had traded in a daily range of $32,451.9 to $37,764.6.

Over the week, Bitcoin has seen a rise in value, as it gained 3.74%.

The volume of Bitcoin traded for the day to the time of writing stood at $70 billion or 52.43% of the total volume of all Crypto market.

Bitcoin has been ranging between $30,411.5957 and $41,921. in the past week.

At its current price, Bitcoin is still down 10.73% from its all-time high of $41,921.72 set on January 8.

What this means: It’s key to note that the most popular crypto asset some hours ago broke through the $35,000 resistance level and appears to be stepping into a new range that would see the price trading around the $38,000 to $40,000 price levels.
Its most recent recovery from the $34,000 price level also appears to have invalidated what previously looked like a bearish head-and-shoulders pattern forming on the 4-hour timeframe price pattern on the Bitcoin chart.

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That said, the number of wallets having at least the lowest unit of Bitcoin, just reached an all-time high. Data retrieved from Glassnode, a crypto analytic trading firm, revealed Bitcoin’s number of non-zero addresses just reached an all-time high of 33,539,871.

Matthias Sunday

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