Daily Volatility Surges as Bitcoin Fights for $20K (Market Watch)

The volatility over the past 24 hours in the cryptocurrency market increased. Bitcoin’s price is currently flirting with the coveted $20K level, and the bulls have so far managed to defend it. The total crypto market capitalization remains above $1 trillion.Somewhat expectedly, the $20K level is proving to be a battleground where buyers and sellers are fighting to establish control. So far, the bulls have managed to defend it, but the volatility is mounting up.

As seen in the chart below, the price retested the lows of the previous day but managed to bounce, and it’s currently trading above $20,000.It’s also worth noting that the increased volatility caused the total liquidations over the past 24 hours to increase to around $250 million. The largest single liquidation order took place on OKEx, and it had a face value of $2M – a BTC-USDT swap.As it’s almost always the case, altcoins followed a similar path. Ethereum, for example, dropped below $1.

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