Bitcoin Breaks Past $61,000, Boosting Investor Confidence

Bitcoin and the cryptocurrency market are showing signs of recovery from the recent price corrections, boosting investor confidence.

Earlier Bitcoin broke the $60,000 barrier after the news about an assassination attempt on Donald Trump and the resurgence seems to be gaining steam. Just moments ago BTC briefly reached the $61,000 price mark.

At the time of writing Bitcoin retraced to $60,775 after a 3.86% surge in the past 24 hours with a trading volume of around $22.6 billion. The flagship cryptocurrency is up 8.35% on the weekly chart.

During the past day $100.7 million were liquidated from the crypto market – $29.13 million in long positions and $71.57 million in short positions.

Proof for the bullish santiment can be found in the 1-day technical analysis from TradingView. The summary, moving averages and oscillators all point to “buy” with 10, 8 and 2 signals, respectively.