Bitcoin spikes past $9,000 before falling back into consolidation range ๐จ This article is 5 years old...
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Bitcoin spikes past $9,000 before falling back into consolidation range
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Updated: Apr. 6, 2020 at 1:19 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin surged past $9,000 before plummeting to retest the lower bound of its trading range at $8,600.
At 15:40 UTC Bitcoin spiked 3.9 percent taking the cryptocurrency from $8,743.62 to $9,090.00 on Coinbase. The price held above $9,000 for 10 minutes before rapidly dropping to retest the lower bound of its 48-hour trading range.
- Coinbase BTC/USD (Source: TradingView)
Crypto Twitter was euphoric as BTC breached $9,000 resistance level. A cacophony of the (in)famous โItโs over 9000โ Dragon Ball Z Vegeta meme graced Twitter before prices dropped.
It's over 9000!!!! pic.twitter.com/cvJX8Blsgw
— Mati Greenspan (@MatiGreenspan) May 30, 2019
The coin currently appears to be consolidating around $8,600. Recent real trading volume was driven by Coinbase with 24-hour volume of $170 million.ย OpenMarketCap showed that Binance lead with real 24-hour volume of $414 million.
Source: DataMish
The sudden gyration in price liquidated a large number of both longs and shorts on crypto derivatives exchange BitMEX. Within the last six hours $19.7 million shorts and $29.2 million in longs were liquidated on the platform.
The insanity of the Bitcoin bull market continues.
Bitcoin Market Data
At the time of press 1:19 am UTC on Apr. 6, 2020, Bitcoin is ranked #1 by market cap and the price is down 4.94% over the past 24 hours. Bitcoin has a market capitalization of $146.96 billion with a 24-hour trading volume of $28.77 billion. Learn more about Bitcoin ›
Crypto Market Summary
At the time of press 1:19 am UTC on Apr. 6, 2020, the total crypto market is valued at at $260.78 billion with a 24-hour volume of $100.71 billion. Bitcoin dominance is currently at 56.29%. Learn more about the crypto market ›
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Bitcoin
$97,791.02
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
BitMEX
HDR Global Trading Limited owns and operates BitMEX which is a trading platform that offers investors access to the global financial markets using only Bitcoin.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Mati Greenspan is the entrepreneurial mind behind Quantum Economics, a firm that specializes in FinTech research, advisory, and money management.