Bitcoin (BTC) charted a new yearly high above $5,412, extending the general upward trend of the past month. Despite expectations of a potential pullback, BTC kept above the $5,200 level. As of 6:00 UTC on Thursday, BTC traded at $5,217.74.
BTC positions keep affecting most altcoins, creating significant price fluctuations in several assets. Yet the uptrend is generating expectations of the end of the crypto winter or at least stability around a higher level.
The current trading profile for BTC sees up to 70% of volumes against the Tether (USDT) stablecoin, with a 14% share of US dollar trading. The dollar is becoming more important in BTC activity, as fully licensed exchanges in the US are inviting renewed interest. Additionally, USDT trading has moved away from Bitfinex and into Binance, which remains the largest holder of the stablecoin.
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