Bitcoin surprised everyone on November 10th when the price suddenly hit a new all-time high. The move also coincided with news that US inflation hit a 30-year high in October, the Wall Street Journal reported.
BTC 1-Hour Candlestick Chart (Bitstamp) | Source: TradingView
Data from TradingView captured the rapid movement of BTC, which skyrocketed to $ 2,000 in just 45 minutes.
Along with many other similar moves over the past few weeks, Bitcoin has not only reversed its short-term downtrend, but also surpassed its previous record high of $ 68,564.
Dealer Michaël van de Poppe soon too To update New ATH for followers:
“New all-time high”.
At the time of writing, volatility is still ongoing as price has broken the $ 69,000 mark and is heading towards the key psychological level of $ 70,000.
Traders watch this level with the belief that any correction in the meantime will lead to a new uptrend.
The famous dealer Pentoshi updates the situation:
“Continuous increase. No declines, favorable trends for BTC and ETH since 40,700 USD with a little consolidation phase. Will the bear appear? “
The attached graphic shows the $ 40,000 region as a possible “last drop”, with Bitcoin currently in pricing mode.
BTC Price Chart | The source: Pentoshi
ETH, BNB and XRP have also reversed the downtrend as sentiment changes rapidly during the day.
Following in the footsteps of Bitcoin, ETH hit a new all-time high of $ 4,878 – and is getting closer and closer to the $ 5,000 mark.
ETH price chart 1 hour (Bitstamp) | Source: TradingView
U.S. markets remain open at press time, and traders are keeping an eye on Tesla (TSLA) after Tuesday’s sell-off hit crypto markets badly.
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