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Bitcoin Price Above $11.5K as Key BTC Price Metric Suggests $12K Retest

Published 08/12/2020, 06:27 PM
Updated 08/13/2020, 08:20 AM
Bitcoin Price Above $11.5K as Key BTC Price Metric Suggests $12K Retest

Today Bitcoin (BTC) price rebounded from its recent low at $11,125 on Aug 11 to $11,617. This suggests traders are turning optimistic as key data show a significant amount of liquidity for BTC until $12,000.

As BTC price rallied, many major altcoins surged in tandem. Chainlink (LINK), which has seen strong gains all week, recorded a 19.6%gain. Meanwhile DeFi-related tokens like including Compound (COMP), Maker (MKR), Aave (LEND), and Cosmos (ATOM), saw gains ranging between 20%-50%.

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