Main navigation

Bitcoin Soars to $61,495 – Has Rally Resumed?

News
Sat, 04/10/2021 - 07:06
article image
Yuri Molchan
World’s largest digital currency has soared to $61,495, coming close to leaving its previous all-time high behind
Bitcoin Soars to $61,495 – Has Rally Resumed?
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Earlier today, the flagship cryptocurrency, Bitcoin, surged to the $61,495 level on the leading crypto exchange Binance and then moved on.

7152_0
Image via TradingView

The resumed rally of BTC is likely to be due to the increased interest from financial institutions. Earlier, U.Today reported about plans of the leading banking giants – Goldman Sachs and Morgan Stanley – opened exposure to Bitcoin to their wealthy customers.

Besides, selling pressure on Bitcoin has begun decreasing due to the Long-Term Holder Net Position Change indicator has gone green first time in five months, signifying that BTC miners have started to stack BTC instead of selling it.

Related
Selling Pressure Decreases As Miners Start Accumulating Bitcoin After 5 Months of Dumping

Another bullish reason is that on April 5, the aggregate value of all cryptocurrency markets surpassed $2 trillion – that’s more than the value of the S&P Composite 1500 Banks index.

As reported by U.Today previously, on March 13, Bitcoin hit a new all-time high of $61,926.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.