January 23, 2021

The rally continues, BTC is above $ 26,000

The rally continues, BTC is above $ 26,000

Bitcoin price has renewed its all-time high above $ 26,000.

On December 26, on the Binance exchange, the BTC price set a new one the maximum at around $ 26,400. At the time of writing, one bitcoin is selling for $ 26,277.

The rally continues, BTC is above $ 26,000

There are many reasons for this rally, one of which isthem - the high interest of institutional investors in bitcoin. In the past two weeks alone, they have bought more bitcoins than all miners receive combined in a month.

However, it was this bullish momentum that likely came from the excessive shorts on Binance Futures.

Another major derivatives exchange, Bybit, has liquidated about $ 135 million in contracts in the past 24 hours.

Notably, the bitcoin price is moving above the 2SF model line, which predicts $ 100,000 BTC by December 2021.

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