Home Market Bitcoin momentarily surpasses $38k to hit year-to-date high in EU trading session

Bitcoin momentarily surpasses $38k to hit year-to-date high in EU trading session

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Quick Take

In the recent EU trading session, Bitcoin’s value showed an upward trend, eventually breaking past the significant threshold of $38,000, setting a new year-to-date high at $38,100, up roughly 2% on the day.

A noticeable trend is evident during the month of November, wherein EU traders have exhibited a more bullish disposition during their trading hours. This has potentially contributed to the positive price movements in this region.

EU Month over Month Price Change: (Source: Glassnode)

Furthermore, Bitcoin’s recent upsurge has triggered substantial liquidations in the crypto markets over the past four hours. According to Coinglass, these liquidations amounted to $24 million, primarily in short liquidations amounting to $18 million. Binance, a major player, has experienced nearly half of these liquidations, with an estimated total of $10 million.

Attention now shifts to the U.S market, with several pre-market trading activities indicating an uptick. Notably, crypto equities such as Coinbase has witnessed a 1.3% increase, while Iris Energy has seen a 2.85% rise, marking potential positive momentum in the sector.

The post Bitcoin momentarily surpasses $38k to hit year-to-date high in EU trading session appeared first on CryptoSlate.

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