Bitcoin surged above $120,000 on Thursday, hitting its highest valuation since the start of August.
Notable Statistics:
- Coinglass data shows 137,574 traders were liquidated in the past 24 hours for $448.47 million.
- In the past 24 hours, top losers include MYX Finance (CRYPTO: MYX), MemeCore (CRYPTO: M) and Sky (CRYPTO: SKY).
Notable Developments:
- CME Group To Launch 24/7 Cryptocurrency Futures Trading In 2026
- Bitcoin Rallies $10,000 In 5 Days: What’s Driving The Surge?
- VivoPower Shares Rally 14% After Announcing $19 Million Equity Raise To Boost XRP Treasury — Stock Sees Slight Pullback Pre-Market
- Canaan Stock Surges On US Order For 50,000 Bitcoin Mining Machines
Trader Notes: Crypto trader Ted Pillows highlighted that Bitcoin's 4-hour RSI has reached its most overbought level since July, suggesting that a short-term correction or sideways action is likely.
CryptoUB observed rejection at range highs, noting that the next key support sits at $117,400, with a pullback to $114,600 still considered within a normal trading range. During such periods, altcoins could see heightened activity.
Skew reported Bitcoin briefly touched $120,000, but holding above this level will require sustained U.S. buying pressure, as today's move was largely led by Binance spot demand.
Trader XO explained Bitcoin is trading into the Value Area High around $119,000, coinciding with the $120,000 five-week composite high acting as local resistance. A pullback to the $114,000–$115,000 range that holds could present a favorable long opportunity.
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