On Tuesday morning, Bitcoin (BTC) once again proved its unpredictability, shooting for the $5,000 level in the most dramatic daily climb for the past three months. Within minutes, BTC pumped from lows around $4,100 to as high as $4,849.46. The rally remained mystifying to traders, with the most probable explanation being a sudden pump.
The price climb happens on relatively high volumes above the equivalent of $12 billion in 24 hours. This time, the price climb is different in comparison to weekend rallies that happened on low volumes.
This immediately increased the BTC price dominance to above 52% as some altcoins retreated. But this time, the sudden price rally is not caused by...