Bitcoin Falls Back Into The $9K Zone After Its Brief $10K Breach

The largest cryptocurrency in the world, Bitcoin finally broke past $10,000. However, the king coin didn’t lounge above the $10K zone for too long.

Crypto Community Awaits Bitcoin’s Big Break Out

Altcoins had taken over the crypto market for almost the first three weeks of this month. For Bitcoin enthusiasts, it was a rather boring month considering coin’s price remained unfazed as it was trading below $10K. It seemed like the prayers of the crypto community had been answered as Bitcoin finally breached $10K.

While, the ETH along with other altcoins and not to forget, DeFi had all the limelight, Bitcoin decided that it was done taking a backseat. Earlier today, the king coin hit a high of $10,081.11. During this, a total of 64,814,314 USD worth of shorts and 191,043 USD worth longs were liquidated on the prominent cryptocurrency exchange, Bitmex. Furthermore, the BTC total longs even surged to a high of 25,428 BTC whereas the shorts were at a low of 5,462 BTC.

The crypto community rejoiced as the king coin finally breached $10K for the first time in the past few months. Several members of the crypto community lauded Bitcoin and even suggested that the king coin was back in action. However, this latest milestone seemed to be very brief as the price of Bitcoin fell back into the $9K zone. At the time of writing, Bitcoin was trading at $9,953.78.

After gazing at Bitcoin’s price movement, several members of the crypto-verse hoped to see a Bitcoin price rally. While the next move of the price of Bitcoin is uncertain, other coins part of the crypto market are undoubtedly on an uphill journey.

Altcoins Continue To Rally

The second-largest cryptocurrency, ETH had been making headlines over the past few days. The altcoin witnessed a significant increase in price. For the first time in the last 12 months, the price of ETH went above $300. Just today, ETH hit a high of $320.46 USD with a 9.0 percent increase over the last 24-hours.

Cardano [ADA] was also seen garnering immense gains. The coin witnessed a 8.7 percent rise in its price over the past 24-hours and was trading at $0.144290, during press time.