Bitcoin has experienced an up-and-down couple of days, with the rise of the front cryptocurrency bringing the historic $100,000 price late last Wednesday, and the fall of the result on Thursday as the crypto liquid piled up quickly lowering the price below $93,000.
In comparison, Friday was very calm for the market – and Bitcoin is slowly starting to regain the ground lost during Thursday's sudden bloodbath.
Bitcoin bounced back above the $100,000 mark on Friday afternoon, breaching six-figure territory around 12:45pm ET and continuing to climb to $101,878. It has since cooled to $101,233, with BTC effectively flat over the past 24 hours.
Traders betting on the future price of Bitcoin and other leading cryptocurrencies aren't far off on Thursday, but data from CoinGlass shows an estimated $890 million in liquidity across all assets in the past 24 hours. It shows.
Bitcoin is responsible for the majority, with a total value of more than $489 million, consisting primarily of long positions—that is, assets that will increase in value in the future—at $408 million.
Although there is no immediately clear reason for the resurgence of Bitcoin on Friday, the swing came with a relatively strong US jobs report on Friday morning, along with Donald Trump and venture capitalist David Sachs, the White House's first-ever appointment of AI and Crypto Czar in the incoming administration.
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