Bitcoin (BTC) surprised everyone on November 10 when the BTC price movement suddenly hit new records. The Bitcoin price spike also coincided with news that US inflation hit a 30-year high in October, according to the Wall Street Journal.
1 hour light chart BTC / USD (bit print). Source: TradingView
Bitcoin and Ether are unabated
Data from Cointelegraph Markets Pro and TradingView recorded a rapid change in the BTC / USD rate, which reached $ 2,000 in just 45 minutes.
In line with several similar moves in recent weeks, Bitcoin not only reversed its previous short-term downtrend but also dipped to its previous all-time high of $ 68,564.
There was no volatility at the time of writing when $ 69,000 emerged, and with it the potential for a psychologically significant $ 70,000 mark.
As Cointelegraph reports, there was a good level on traders’ radar, which believed that any correction in the meantime would end in a new rally.
“Wake up tirelessly,” popular merchant Bentucci replied.
“No decline has been identified, only a trend towards BTC and ETH in US dollars from 40.7 thousand. With a short period of consolidation.
The accompanying chart describes the $ 40,000 area as possibly the “last fall ever” when Bitcoin is currently in pricing mode.
Detailed BTC / USD price chart. Source: Pentoshi / Twitter
ETH copies bitcoins with a new record
Ether (ETH), Binance Coin (BNB) and XRP also reversed their bearish stance as sentiment shifted rapidly throughout the day.
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ETH / USD is tracking Bitcoin to its own record of $ 4,868, which is still closer to the $ 5,000 limit.
1-hour light chart ETH / USD (bit print). Source: TradingView
As of this writing, US markets have yet to open as traders have been eyeing Tesla after the November 9 selloff caused a negative impact on crypto markets.