Bitcoin (BTC) performed one more feat of fast appreciation late on Sunday, by breaking above $8,600 and keeping most of the gains. With this, the leading coin re-sparked hopes of revisiting the $10,000 range. The unpredictable spike broke through previously charted resistance levels, getting a boost from increased activity on Bitfinex and Coinbase.
BTC traded at $8,718.78 as of 5:40 UTC on Monday, extending the gains to an even higher range. Trading volumes once again exceeded $30 billion’s equivalent, with a rising share of dollar-based trading. The share of Tether (USDT) fell from 75% late on Sunday to 62% on Monday, and Coinbase took the share of US dollar trades above 14%.
The events reveal that a spike in prices on USDT-bas...