“In percentage terms, bitcoin recorded the largest daily candle in more than a year, gaining more than 18% day-over-day at the highest point of the rally,” Mikkel Morch, executive director at crypto hedge fund ARK36, said in an email. “While it seems that the second leg of the move was at least partially fueled by a small short squeeze, overall, the rally was driven by a huge spike in demand.”
Related posts
-
Six Bitcoin (BTC) Mutual Funds to Launch in Israel Next Week: Report
Six mutual funds tracking the price of bitcoin (BTC) will debut in Israel next week after... -
Russia to Control Crypto Mining Activities by Region in 2025
Russia’s government has published a draft resolution on banning or providing restrictions on mining locally. The... -
Bitcoin Price Comeback: Can It Regain Ground?
Bitcoin price started a recovery wave above the $95,000 level. BTC might continue to rise if...