3 reasons why traders expect continuation after Bitcoin price spike to $24K

[Malam90]

The price of Bitcoin (BTC) surpassed $24,000 on Dec. 19, reaching a new all-time high. On Coinbase, BTC peaked at $24,200 and has since consolidated into the $23,500 to $23,800 range.

Three factors pushed the price of BTC upwards within a short period, leading it to a record-high. The factors are a large short squeeze, stacked sell orders at $23,600, and the market’s reaction to the U.S. Treasury’s self-custodied wallet rule proposal.

Source Link=
https://cointelegraph.com/news/3-reasons-why-traders-expect-continuation-after-bitcoin-price-spike-to-24k