Today the price of Bitcoin (BTC) abruptly rose by 6% from $10,136 to as high as $10,743.
After this powerful 24-hour rally, analysts are now turning cautiously bullish for various reasons but will Bitcoin price be able to tackle the $11K mark any time soon?
Cryptocurrency daily market performance snapshot. Source: Coin360
Currently, the factors that appear to be lifting investor sentiment are negative funding rates, BTC whale activity, and the U.S. dollar’s recent weakness.
Funding rates are…