Bitcoin (BTC) returned to $ 40,000 for the first time in two weeks during the 4th of February as Wall Street volatility proved beneficial for BTC bulls.
Liquidations mount for BTC shorts
Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD jumped above $ 40,000 on Feb. 4, just two hours after opening Wall Street, gaining momentum.
At the time of writing, both of them raised $ 3,000 in two hours, an unexpectedly strong performance that caused the short sellers very much pain.
According to Coinglass Chain Inspection Resources, BTC’s payments have reached $ 50 million in the last four hours, with cryptocurrency crossovers going through $ 100 million.
Analysts, who have been eyeing the site for $ 39,600 to test and save, are equally unsuccessful.
“Well, I think people are starting to feel FOMO,” said Cointelegraph contributor Michaël van de Poppe.
In the midst of a tumultuous short-term environment, many take the opportunity to recall the goal of a higher value of time.
#BTC Key level
Shakeout under $ 38.5k almost perfect scenario
Remember # Mid-term Target ~ $ 48k daily 360MA.
After the LTF projection is perfectly completed, the pump separates. Re-demanded the rise of the wedge, which is currently trading at the resistance level. Throwback S / R reverses or breaks next. pic.twitter.com/iqeo6DofUW
– AN₿ESSA (@ Anbessa100) February 4, 2022
“I suspect there is a stock price of $ 40,000. What will be sold is already sold in a two-month downtrend, closed by macro panic,” Light said on Twitter. Continue About the sustainability of movement.
“Also suspect buyers in the $ 30K area bought to sell here. Similar in many ways to the $ 6K level in 2019.”
BTC / USD reached $ 40,450 on Bitstamp before the merger phase began, with volatility still high in evidence.
Ethereum up nearly 30% from January lows
Altcoins followed by Ether (ETH) rose more than 10% during the day to circle $ 3,000.
Related: Bitcoin jumps after Amazon’s 15% rebound in US tech return
ETH / USD last traded at its key psychological level on January 21 along with Bitcoin and just over ten days ago it was close to $ 2,000.
The other in the top ten cryptocurrencies on the market is green, with best performer Solana (SOL) reaching a daily gain of 13%.