Bitcoin’s price grew by over 10% only a few hours earlier today, with prices increasing from about $35,000 to almost $40,000.
Price action indicates a violent short squeeze that took place as the price went above $35,000 with bullish momentum suddenly increasing as the price rallied 15% from about $34,000 to $39,800 in less than three hours.
It took Bitcoin five days to grew from $30,000 to $34,000. Today’s increase makes Bitcoin the top gainer in one day by market cap.
Polkadot and Chainlink have also experienced a big increase, as they both have jumped by 11% since yesterday.
Ethereum has registered a growth of about 7% since yesterday, which makes it the weakest-performing crypto in the top 10.