Bitcoin Price Breaches $61,000 Ahead of Key Inflation Figures; What’s Next?


Key Bitcoin Price Outlook The bitcoin price briefly surged above $61,000 on Tuesday. The climb surfaced as a part of an upside weekly session, as traders’ appetite for safe-havens surged ahead of key US inflation data. Technically, the cryptocurrency shied away from confirming a price breakout to the upside. Bitcoin rallied above $61,000 on Tuesday. The flagship cryptocurrency’s upside move was brief but left traders more confident about extended gains. Changpeng Zhao, the CEO of Binance, noted that the traffic volume peaked on their trading platform following Bitcoin’s spike. That indicated that more traders rushed to online exchanges to buy Bitcoin or sell it to secure short-term profits. Just seen another ATH in traffic volume. Systems holding up so far. Monitoring. Will see if #bitcoin does it too. Not financial advice. — CZ Binance (@cz_binance) April 13, 2021 Michaël van de Poppe, an Amsterdam-based market analyst, hinted that traders would…

Read the original article here