Bitcoin (BTC) moved away from its period of relative stagnation. In less than a week, BTC erased the losses from the recent low close to $6,500, and vaulted the $7,500 level. The late Sunday rally was a renewal of BTC weekend action.
BTC got a boost from chart analysis, which saw the prices attempt a trek to $7,800, breaking through previous resistance levels. Bulls seemed to return toward the end of 2020. Both Tether (USDT) activity and futures market activity picked up immediately.
BTC remained highly unpredictable, breaking away from what was seen as a continued bearish trend to below $6,000. BTC now sees another bull-and-bear fight, as even a few hundred dollars can generate millions in profit or loss.