Bitcoin, the world’s largest cryptocurrency, has seen a significant recovery in the last hour and is trading at $65,720, surpassing the critical $65,000 threshold at the time of writing.
BTC has risen around 3% in price after falling to around $63,000 during the day.
The highly volatile cryptocurrency market saw $143 million in liquidations during the day. Interestingly, despite the price increase, most of it, $87 million, was seen in long positions.
As expected, the most liquidated cryptocurrency was BTC with $45 million. In second place was Ethereum with $32 million.
Il Capo, one of the most famous analysts in the crypto world, made a statement on this matter after the rise.
The analyst said that after the $60,000-$61,000 area was recaptured by BTC, the price was based on the next resistance at $65,000. According to the analyst, a break above $65,000 confirms the bullish scenario. The analyst presented a bullish scenario if $65,000 is broken decisively. He claimed that the next target would be the liquidity zone between $72,000 and $76,000.
In his latest comment, the analyst posted a message that “that’s it” after the rally.
*This is not investment advice.
