Bitcoin (BTC) price hit highs above $ 23,500 on Dec. 22 as Monday’s weakness flip-flopped to see bulls challenging previous levels.
BTC price in daily earnings 5.2%
Data from Cointelegraph Markets, Coin360 and TradingView shows BTC / USD returning to jobs lost over the weekend, reaching $ 23,625 at publication time.
After plugging in $ 21,800 on Monday, the markets have set a different tone today, with Bitcoin gaining over 5% and adding $ 1,200 in just six hours.
Macro factors combined to support Bitcoin’s appeal, with the US Congress passing another $ 908 billion coronavirus stimulation bill.
“Another $ 900 billion dollar ad for Bitcoin,” Tyler Winklevoss, co-founder of Gemini exchange, summarized following the vote.
Heatmap order book data show that selling pressure at $ 24,000 and definitive resistance at $ 25,000 remain, always pushing some stronger rally prospects toward new highlights.
At the same time, Cointelegraph Markets analyst Michaël van de Poppe warned that a dip below $ 20,000 would not be “surprising” under current conditions.
“People are focusing on $ 19,500 for now, and I think this is a very critical level to watch, but I wouldn’t be surprised if we dip below $ 19,500 towards $ 18,500 to abolish all people who have longed for that range, ”he summarized in a video update on Tuesday.
MicroStrategy CEO: Last week’s bull run was “other guys”
Meanwhile, fresh comments from Michael Saylor, CEO of MicroStrategy, cast doubt on the idea that the company’s massive Bitcoin buy-in was responsible for last week’s intense upside.
Speaking on Funky Crypto Podcast, Saylor He said that his purchases came in the form of high-frequency batches of $ 1,000- $ 2,000, and not a lump sum.
“I wasn’t a green candle. The green candles were other boys, ”he revealed.
Those “other guys” may not be publicly known yet, according to Rafael Schultze-Kraft, chief technical officer of the Glassnode chain monitoring resource. In a series of tweets on Monday, Schultze-Kraft argued that major buyers of MicroStrategy, Grayscale and others are far from the only ones filling their bags.
“Do you really think they are alone? Not of course, ”he wrote.
“Expect a lot more on the move. They come – gradually, then suddenly. ”