2 key Bitcoin price metrics suggest BTC is primed to reclaim $40,000 By Cointelegraph

Feb 1, 2022


© Reuters.

Cryptocurrencies had a unstable week after ‘s (BTC) sudden crash to $33,000 on Jan. 24. Nevertheless, the sharp 9% drop absolutely recovered inside 8 hours after BTC worth regained the $36,000 help.

On Jan. 26, Bitcoin rallied to $38,960 but it surely couldn’t maintain the extent and corrected by 8.8% within the following 8 hours. When factoring within the current ups and downs, Bitcoin managed to solely acquire a meager 1.6% over the previous seven days.

Complete crypto market capitalization, USD billion. Supply: TradingView
High weekly winners and losers on Jan. 31. Supply: Nomics
OKEx USDT peer-to-peer premium vs. USD. Supply: OKX
BTC CME 2-month ahead contract premium vs. Bitcoin/USD. Supply: TradingView