Bitcoin
Bitcoin (BTC)
$58,601.00 0.63696
Bitcoin price
Ethereum
Ethereum (ETH)
$3,149.48 0.00093
Ethereum price
BNB
BNB (BNB)
$530.54 -0.87222
BNB price
Solana
Solana (SOL)
$139.50 0.44882
Solana price
XRP
XRP (XRP)
$0.5342280 14.22948
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 3.54912
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -2.33098
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -1.64883
Bonk price
Bitcoin
Bitcoin (BTC)
$58,601.00 0.63696
Bitcoin price
Ethereum
Ethereum (ETH)
$3,149.48 0.00093
Ethereum price
BNB
BNB (BNB)
$530.54 -0.87222
BNB price
Solana
Solana (SOL)
$139.50 0.44882
Solana price
XRP
XRP (XRP)
$0.5342280 14.22948
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 3.54912
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -2.33098
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -1.64883
Bonk price
Bitcoin
Bitcoin (BTC)
$58,601.00 0.63696
Bitcoin price
Ethereum
Ethereum (ETH)
$3,149.48 0.00093
Ethereum price
BNB
BNB (BNB)
$530.54 -0.87222
BNB price
Solana
Solana (SOL)
$139.50 0.44882
Solana price
XRP
XRP (XRP)
$0.5342280 14.22948
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 3.54912
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -2.33098
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -1.64883
Bonk price
Bitcoin
Bitcoin (BTC)
$58,601.00 0.63696
Bitcoin price
Ethereum
Ethereum (ETH)
$3,149.48 0.00093
Ethereum price
BNB
BNB (BNB)
$530.54 -0.87222
BNB price
Solana
Solana (SOL)
$139.50 0.44882
Solana price
XRP
XRP (XRP)
$0.5342280 14.22948
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 3.54912
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -2.33098
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -1.64883
Bonk price

Bitcoin hits $60k for first time since November 2021

bitcoin-60000-price-analysis
Edited by
Markets
Bitcoin hits $60k for first time since November 2021

The price of Bitcoin crossed the $60,000 mark for the first time since Nov. 21, 2021.

According to CoinMarketCap data, Bitcoin (BTC) is trading at $60,250 at the time of writing. For a moment, the price rose to around $60,500. Bitcoin increased by about 6% in a day and by more than 18% in a week.

Bitcoin hits $60k for first time since November 2021 - 1
Source: CoinMarketCap

Against the background of the growth of the Bitcoin rate, the asset dominance indicator increased to 54.4%, and the volume of liquidations on futures contracts in the crypto-asset market rose to more than $342 million in 24 hours. About $210 million in losses occurred in short positions, while traders liquidated $133 million in long positions.

Bitcoin hits $60k for first time since November 2021 - 2
Source: Coinglass

BTC’s price has been increasing steadily since September 2023. The upward movement stalled in December, but it began gaining momentum again this month. The drivers of the rapid growth of the Bitcoin price were the upcoming halving in the spring of 2024, as well as a significant influx of capital into spot Bitcoin ETFs.

Glassnode analysts point out that a speculative frenzy against the backdrop of the bullish trend in BTC grips the Bitcoin market. Fresh capital flows, general exchange activity, leverage in crypto derivatives, and institutional demand indicate this.

QCP Capital analysts also indicated that BTC reaching $60,000 is a natural target for the March expiry.