The largest cryptocurrency is back above the psychological barrier of $40,000. An increase of almost $3,000 occurred in just two hours, which of course translated into huge losses for holders of short positions on BTC.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appLiquidation of short positions on Bitcoin reached almost $50 million within 4 hours. Source: Coinglass
Interestingly, in the chart below we can see that the recently visible strong correlation with the Nasdaq (US100) index listing is giving the first signs of fading. Bitcoin is climbing below the psychological barrier of USD 40,000 and if it manages to permanently go beyond this ceiling, we can look for the next important barrier to overcome in the area of USD 44,000-46,000.
BITCOIN chart, D1 interval. Source: xStation 5
Bitcoin is not the only one gaining. The project's biggest competitor, Ethereum (ETHEREUM) is currently up almost 10% and is slowly approaching the psychological $3,000 barrier.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.