Bitcoin Tests $63,000 Level

In the early hours of Saturday, October 12, the price of the leading cryptocurrency briefly surpassed the $63,000 mark.

At the time of writing, digital gold had corrected to $62,700, marking a 3.5% increase over the past 24 hours, according to CoinGecko.

Most digital assets in the top 10 by market capitalization followed Bitcoin into the “green zone.” Dogecoin (+3.3%) and Solana (+3.1%) saw the largest gains over the day.

The total market capitalization of digital assets stands at $2.3 trillion, with Bitcoin’s dominance index at 58%.

According to Coinglass, the total volume of liquidated positions over the past 24 hours amounted to $119.5 million, with nearly $95 million in shorts.

The Fear and Greed Index rose to 49, indicating a neutral level.

On Thursday, October 10, amid the release of US inflation data, the leading cryptocurrency fell below $61,000. The following day, Bitcoin briefly dropped below $60,000.

Experts have outlined conditions for digital gold to rise above $80,000 by the end of the year. These include a victory for Donald Trump in the US presidential election, a 50 basis point rate cut by the Federal Reserve with new stimuli from China, and the absence of major surprises in the industry.