Bitcoin (BTC) maintained its bullish momentum on October 6, surpassing $ 55K for the first time since May 12.
Bitcoin completely erases the effects of the migration of Chinese miners
According to data from Cointelegraph Markets Pro and TradingView, the BTC / USD pair rose as high as $ 55,500 on October 6.
Hence, Bitcoin has broken above the $ 53,000 level, which is considered critical for bulls. The largest cryptocurrency reached this level in early September, but was unable to hold on.
We are less than $ 15 billion away from Bitcoin crossing the $ 1 trillion market capitalization milestone again.
– Pomp (@APompliano) October 6, 2021
Although it is discussed that 57 thousand dollars will be spent in a short time,The futures markets began to show high volatility.
CME Group Bitcoin futures, which were trading $ 400 above the pre-rally spot price, lagged behind the post-rally spot price.
Thus, the BTC / USD parity completely eliminated the effects of increased pressure from China on the crypto mining sector in May, and the market value of Bitcoin again surpassed $ 1 trillion.