After choppy price action over the past few days, Bitcoin price has taken off, climbing above the pivotal $60,000 level today.
As you can see in the chart below, the move came out of the blue as BTC exploded over $1,000 in a single hourly candle.
Source: TradingView
As CyrptoPotato previously reported, the $60,000 mark is very significant from a technical perspective. Also, at the time of writing, the cryptocurrency is moving towards $61,000, approaching the decisive 200-day moving average, which is around $63,000.
If the price manages to rise above it, this would send positive signals throughout the market and renew hopes for a prolonged recovery.
Meanwhile, the sudden move has also led to a surge in liquidations, with more than $100 million in derivatives positions wiped out in the past 24 hours.
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