RATE Group | Bitcoin Breaks Above $10,000 in Spot Market
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Bitcoin Breaks Above $10,000 in Spot Market

09 Feb Bitcoin Breaks Above $10,000 in Spot Market

Posted at 13:52h in Bitcoin News by

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For the first time in three months, bitcoin’s price is being quoted in five digits to the left of the decimal. 

The top cryptocurrency crossed above $10,000 at 04:10 UTC and printed a high of $10,176 during the early European trading hours. That was the highest level since Oct. 26, according to CoinDesk’s Bitcoin Price Index. 

At press time, bitcoin is changing hands at $10,130, representing 3 percent gains on a 24-hour basis. 

The move above $10,000 is accompanied by an improvement in the on-chain fundamentals and looks sustainable. “This breakout is the real deal. Fundamental investment activity is backing this $10k breakout,” Willy Woo, partner at Adaptive Capital, tweeted early Sunday.

With the surge above $10,000, the cryptocurrency’s year-to-date gains have risen to 41 percent and its market capitalization has increased to $183 billion. The cryptocurrency is now up more than $3,500 from the low of $6,425 registered in mid-December. 

Bitcoin picked up a bid below…

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