Bitcoin's 10% 'god candle' hints at $130K next — Analyst
Bitcoin (BTC) reached an all-time high of $109,356 on Bitstamp on January 10, following a significant price increase from below $100,000. BTC traded around $108,000, marking a 3.3% rise over 24 hours. The price surged over $7,200 in just 60 minutes, coinciding with the inauguration of US President-elect Donald Trump. Trump's launch of the memecoin Official TRUMP ($TRUMP) achieved a market cap of $20 billion within two days, impacting the crypto market. Despite volatility, BTC rebounded, reversing a drop of over $3 billion in open interest and leading to over $52 million in short liquidations. Analysts predict BTC could rise to mid $130Ks, citing a breakout from a descending triangle formation. The closing of a small CME gap also contributed to the positive outlook for Bitcoin's price movement.
