Why is Bitcoin price up today?

Cointelegraph

Published Nov 22, 2022 02:08PM ET

Updated Nov 22, 2022 08:00PM ET

Bitcoin price is up on Nov. 22, and a market-wide rally in crypto prices suggests that Bitcoin (BTC), Binance Coin (BNB) and Ether (ETH) could be bouncing off of yearly lows.

The current rally in BTC and select altcoins could indicate the market is in the process of completing its purge even with liquidity issues being faced by Digital Currency Group and Genesis Trading being unresolved.

Daily cryptocurrency market performance. Source: Coin360
Bitcoin options strike prices. Source: Coinglass
Bitcoin liquidations. Source: Coinglass
Interest rates may fall. Source: MacroMicro
Bitcoin, SPY and SPX correlation coefficient. Source: TradingView
BTC/USDT 1-week RSI. Source: TradingView

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