Bitcoin price back above $20,000

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Over the past day, the price of bitcoin has increased by more than 8%, returning to levels above $20,000.

At the time of writing, digital gold is trading in the $20,250 region.

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Hourly BTC/USDT chart on Binance exchange. Data: Trading View.

The second largest cryptocurrency by capitalization has come close to the level of $1,400, near which it was last traded on September 21.

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Hourly chart of ETH/USDT on the Binance exchange. Data: Trading View.

Flagship crypto assets have revived the rest of the market. The top 20 coins by market capitalization look like this:

Uniswap’s UNI token showed the highest growth over the past day – 18.1%. Solana (SOL) and Polkadot (DOT) gained 8.9%.

The total market capitalization reached $1.01 trillion, according to CoinGecko.

According to Glassnode on-chain analysts, short-term investors are currently suffering significant losses. Hodlers are holding firm, and many metrics point to a “market cycle detox.”

On September 21, Bitcoin reacted with a sharp correction to the increase in the key rate of the US Federal Reserve.

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Source: Cryptocurrency

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