Bitcoin surged more than 8% over the past 24 hours to approach $25,000 early Thursday as the cryptocurrency market flashed green. The move pushed Bitcoin to its highest levels since mid-August. Bitcoin price jumped to $24,898 early Thursday before retreating slightly to its $24,530 level. That put the world’s largest cryptocurrency at levels not seen since before the collapse of FTX in November. Bitcoin Price Action Chart Blockchain research provider Lookonchain noted that several funds and institutions poured nearly $1.6 billion into the crypto markets since Feb. 10. Most of those funds flowed from stablecoins to various exchanges. Circle’s USD Coin made up a majority of the outflows, with most of the transfers coming from three digital wallet addresses. Meanwhile, roughly $77 million in Bitcoin positions were liquidated in the prior 24 hours, according to cryptocurrency analytics site Coinglass . Of that, more than $66.4 million were short positions, leading to a short-squeeze boost in the price action. On a macro scale, Bitcoin and Ethereum extended their gains slightly this week even after Tuesday’s January CPI report showed persistent , but slowing, inflation. On Wednesday, the New York Times reported that FTX is close to recovering another $400 million […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
