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Crypto

Bitcoin Advances Above $20,000 to Break Out of Trading Range

  • The token has traded below key level for nearly three weeks
  • Low volatility means prices will go up, says Arcane Crypto
A Bitcoin token on US dollars.

A Bitcoin token on US dollars.

Photographer: Christinne Muschi/Bloomberg
Updated on

Bitcoin broke above $20,000, ending its longest run below that price level since the token first breached the threshold in late 2020. 

The largest cryptocurrency by market value, rose as much as 5.3% to $20,412 Tuesday, posting its biggest one-day gain since Sept. 27. The token has traded below $20,000 for nearly three weeks, breaking from the coin’s trademark volatility. Other digital assets followed with Ether gaining as much as 12.8% to trade at $1,525, its highest price in more than a month. And so-called alt-coins like Solana and Dogeoin also advanced.