A few hours ago, Bitcoin saw a mini bull run that took the king coin above $21k. At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $20,712.
Bitcoin broke the $21k resistance
Recently, Bitcoin has touched the $21,000 mark, testing a range that erases the damage done to BTC’s price by the alleged fraudster and FTX founder Sam Bankman-Fried.
The top cryptocurrency is up 10% in the last 24-hours, trading at $20,775 at the time of publishing.
Bitcoin’s rise has triggered a broad surge in the overall crypto markets. Ethereum is currently at $1,548, and most of the important coins are trading in the green.
Bitcoin raced through the $20,000 mark, a historic and psychologically significant price point, in a matter of minutes.
“That number is the virtual top of BTC’s 2017 bull run, and Bitcoin’s plunge below that previous all-time high in November was unprecedented,” as the online publication the Daily Hodl notes.
The plunge was triggered by the collapse of Bankman-Fried’s crypto exchange FTX, which was allegedly engaged in criminal misuse of customer funds.
FTX in the news
Speaking of FTX, the entity has reportedly has recovered over $5 billion worth of liquid assets, including cash and digital assets, attorneys in Delaware bankruptcy court said during an FTX bankruptcy hearing Wednesday.
CNBC notes the fact that the news comes after federal prosecutors announced plans to seize at least $500 million worth of FTX-connected assets as part of their ongoing prosecution of FTX co-founder Sam Bankman-Fried.
The same online publication notes that the recovery will be a welcome boon to FTX customers after the crypto exchange imploded in November.
“FTX’s new CEO, John J. Ray, previously attested that at least $8 billion of customer assets were unaccounted for in the “worst” case of corporate control he’d ever seen.” Check out our previous article in order to learn more details about this.
