Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin price has risen by 1.71%% in the last 24 hours amid crypto lending platform BlockFi filing for chapter 11 bankruptcy. In the last 24 hours, the trading volume of Bitcoin is $25,195,723,296 USD. Notably, BlockFi, a cryptocurrency lender, filed for bankruptcy protection on Monday, just days after suspending withdrawals in the aftermath of FTX’s bankruptcy filing.  According to the bankruptcy filing, its significant exposure to FTX caused a liquidity crisis. FTX, founded by Sam Bankman-Fried, filed for bankruptcy in the United States earlier this month after traders withdrew $6 billion from the platform in three days and rival exchange Binance dropped a rescue deal. The market capitalization of the cryptocurrency market is $834.81B, up 2.01% from yesterday.

Bitcoin live price in USD

The current Bitcoin price is $16,466.96 USD, and the 24-hour trading volume is $25,204,216,179 USD.  Bitcoin has increased by 1.71% in the last 24 hours. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,219,606 BTC coins. Notably, Bitcoin is yet to cross the $16,800 barrier. Below the $16,000 support area, BTC could experience further losses.

The BTC/USD is trading bullish on Tuesday after gaining support at the $16,000 trading level. In the 4-hour timeframe, an upward trendline is extending support near the $16,000 level, and the closing of candles above this level has triggered a bullish recovery in Bitcoin. On the upside, the immediate resistance for Bitcoin is at $16,650, which is supported by a descending trendline. Bitcoin has also created a double top level at $16,650, with a split above this level taking BTC to $17,250 or even higher.

Bitcoin latest price in INR

Bitcoin latest price in INR is ₹ 1,345,199, and the 24-hour trading volume is ₹ 2,061,714,410,331. Bitcoin has increased by 1.68% in the last 24 hours. With a live market cap of 25,854,188,179,120 INR, It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,219,606 BTC coins. The coming days will determine whether the market starts to experience a mid-term recovery or if the arduous downtrend keeps going.