Bitcoin gains 15% in just 3 hours amid tight squeeze

Bitcoin has surged more than 10% over just a few hours, with prices surging from roughly $35,000 to just shy of $40,000.

Bitcoin gains 15% in just 3 hours amid tight squeeze

The spike showed up as BTC broke above $35,000, with bullish momentum suddenly accelerating as it quickly rallied 15% from roughly $34,000 to $39,800 over the course of fewer than three hours.

At the time of writing, Bitcoin is trading around $38,300, up more than 11%, according to CoinMarketCap

Bitcoin is the top gainer for the past 24 hours among the top 30 crypto assets by capitalization, posting a gain of nearly 13%. Polkadot and Chainlink are also among the day’s top gainers, each having increased by more than 11% in the past 24 hours.

The biggest meme-coin, Dogecoin is also up roughly 9% for the day, it would appear the impact of Elon Musk’s Twitter account on the meme-coin’s markets is beginning to wane, with Tesla’s CEO posting a meme asserting that “Dogecoin is money.

However, despite Musk’s efforts, Dogecoin seems to have moved in a limit along with the broader altcoin markets, with most large-cap assets posting bigger gains for the day.

The second-largest crypto, Ether is also lagging behind the pack, posting a gain of roughly 7% for the past 24 hours, despite next month’s fast-approaching London upgrades for Ethereum. ETH is the weakest-performing cryptocurrency ranked among the top 10 by capitalization for the past day.

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