Key Bitcoin price metric signals traders are positioned for $50K BTC
Cointelegraph
Published Feb 12, 2021 08:27PM ET
Updated Feb 14, 2021 10:40PM ET
Bitcoin (BTC) price posted a 25% gain after this week’s news of Tesla’s $1.5 billion BTC investment came out. Prior to this reveal, BTC was lagging behind Ether’s (ETH) performance by 7.5% but the numerous bullish events of the past few days helped BTC to hit a new all-time high at $48,900.
Previous to Tesla’s announcement, BTC price was trading in the $30,000 to $41,500 range for nearly 3 weeks and once the price broke out one would expect pro traders and arbitrage desks to follow the bullish trend.
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Written By: Cointelegraph
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