Bitcoin, Ethereum, Dogecoin Spike Alongside Stocks: Trader Peter Brandt Says BTC On Target To Reach Bull Market Top Of $125,000-$150,000
Leading cryptocurrencies rallied Thursday as investors turned to Bitcoin amid a weak financial climate.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +2.72% | $96,815.33 |
| Ethereum (CRYPTO: ETH) |
+2.76% | $1,844.13 |
| Dogecoin (CRYPTO: DOGE) | +4.88% | $0.1812 |
What Happened: Bitcoin reached an intraday high of $97,437.96 in the early trading hours, then fell to roughly $96,500 in the afternoon before making a fresh move past $97,000 overnight.
Ethereum peaked at $1,872.94 for the day before pulling back to $1,835. Both assets saw an appreciable spike in trading volumes.
Bitcoin’s market dominance rose to a yearly high of 63.8%, implying that investors were more confident in the “King Coin” relative to other cryptocurrencies.
Bitcoin’s uptick comes a day after the U.S. economy contracted in the first quarter, with investors possibly considering it as a safe haven in times of economic turmoil.
The upsurge resulted in $209 million in cryptocurrency liquidations, with $154 million in bearish shorts erased.
Bitcoin’s Open Interest exploded 8.21% to $66.93 billion in the last 24 hours, marking a jump in leverage and potential market volatility. Interestingly, despite the …
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