BTC reached $21K for the first time since September.
Cross-crypto liquidations totaled $1.43 billion, adding to what was already the highest tally in 2022 so far.The impetus did not come from United States equities on the day, which were treading water as Bitcoin played catch-up while reducing overall risk-asset correlation.
The spotlight was instead on gold, which also saw a relief rally as the U.S. dollar struggled. The U.S. dollar index circled its lowest levels since Sep. 20.Tracking the order book on the largest global exchange, Binance, analytics platform Material Indicators noted ask liquidity was moving higher. “A big chunk of ask liquidity was eaten in the past 24 hours and some has been replenished, but there is no question that BTC bulls got some help when blocks of bid and ask liquidity were adjusted upward,” it$21,000 formed a key level for some analysts, among them Il Capo of Crypto, whoFellow trader and analyst Rekt Capital also noted that Bitcoin was not yet out of the woods when it came to its comedown from all-time highs.