Yesterday, Bitcoin experienced a major breakout through $12,000 and in a flash was trading above $13,000. Buying on exchanges is picking up, which is, in turn, driving up prices.
However, a “massive” wave of OTC buying suddenly could also be contributing to the bullish impulse. Here’s how.
Bulls Push BTC To New 2020 High, Is The Post-Halving Bull Run Here?
The first-ever cryptocurrency is trading just below $13,000 after a strong bullish impulse and $1,000 candle took the cryptocurrency charging higher.
News that PayPal would introduce cryptocurrencies to its customers starting immediately and roll out full payment support for merchants in 2021, caused buyers to step in with strength.
Related Reading | Warning: “Watch Out” For Bitcoin “Bulldozer” When Volume Expands
Sellers attempting to short Bitcoin as it rocketed higher only served as fuel for a short squeeze that ultimately took the cryptocurrency to a new 2020 peak.
Is "Massive" OTC buying contributing to the Bitcoin bullish impulse? | Source: BTCUSD on TradingView.com
Signs point to a new bull run beginning,