The trading performance of Bitcoin (BTC) has been quite volatile in recent hours. The data shows that the asset has become very volatile and its volatility was different in the past 24-hours.
Due to the strong volatility, the trading price of Bitcoin ended up getting pushed to a higher level. It was a significant jump for the asset as it managed to move closer to the $25,000 level and then hit it for a brief moment.
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Bitcoin Price Hit $25,000 and then Retreated
As the price of the asset was pushed higher, it ended up taking a fall. It reportedly fell to a lower trading level but it was not a significant pull. The trading price of Bitcoin reportedly lost $500 after hitting the $25k mark.
Multiple altcoins have recorded a significant push in the past 24 hours. The values of these assets have continued surging in the respective hours and many cryptos were able to earn the spotlight.
Compared to all the cryptocurrencies, it was OKB that managed to steal the show with its strong performance. The asset managed to hit an all-time high and the situation constantly became favorable for the asset.
According to the latest market data, the trading price of OKB managed to push beyond the $50 mark for the first time. This has marked a remarkable victory for the asset against all the odds in the crypto market.
Bitcoin was stopped at $25k
Just a few days back, the trading price of Bitcoin had recorded a downtrend. It had reportedly fallen to a lower level in the recent trading session.
The Bitcoin price analysis report shows that the value of the asset had fallen to a low of $21,500. Given the strong performance, the asset had been demonstrating, falling to $21,500 was a low performance.
The reason why Bitcoin hit a lower level all of a sudden was due to the regulatory authorities in the United States going against the crypto industry.
The regulators in the United States have tightened their policies around the cryptocurrency industry. This resulted in a brief demise of the cryptocurrency industry until it made a strong recovery.
Just when the trading price of Bitcoin fell to a lower level, it was the bulls who entered the crypto market. They launched their strong bullish attack against the bears and the price of the asset moved higher.
As their strong buying activities came into play, the trading price of Bitcoin as well as the altcoins moved to higher trading levels.
This is when Bitcoin managed to gain strong momentum and its price rose to hit $25,000 before consolidating to $24,500.
Initially, Bitcoin was not able to hit a particular level. This is because the sentiments of the investors were not strong enough to support the rallies.
However, as strong momentum came into play, the trading price of Bitcoin started to rise and it was able to hit a higher level.
The trading price of Bitcoin managed to hit a high trading price it had not managed to hit since August 2022.
The report shows that in the past 24-hours, BTC’s trading price has surged to 3.3% and its valuation has increased beyond $475 billion. The dominance of BTC has risen to 42.5% due to the recent rally as well.
Latest Performance of OKB
Then comes the native token of the OKX exchange, OKB, which has demonstrated a strong performance recently.
A few days back, the trading price of OKB crossed the $50 mark, managing to hit an all-time high. Unfortunately, the price of OKB recorded a slight retracement the other day.
In a matter of a week, the average daily rally recorded by OKB is 8%, pushing its price significantly higher than the past prices.
Due to the strong push, the overall crypto market valuation has surged to $1.1 trillion.