Bitcoin (BTC) rallied ahead of the weekend, re-crossing the $8,000 level in a fast recovery that can be viewed as a positive sign for price strength. BTC maintaining the $8,000 level is also considered instrumental for an altcoin rally.
Just a few hours ago, BTC broke out over $8,020.50 on Bitmex, with premiums on other exchanges as well, and general prices well above the $7,900 mark. The late Friday rally happened at high volumes of above $24 billion in 24 hours, with 75% of it coming from Tether (USDT) trading.
The BTC recovery boosted the prices of altcoins across the board, erasing losses from the Thursday sell-off.
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