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    Canada or USA: Differences in Rental Prices – Lake Superior News

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    £58m Chelsea man ‘would prefer’ loan move to Man Utd as interest is declared

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Market Wrap: Bitcoin Nears All-Time High As US House Passes $1.9T COVID-19 Relief

March 11, 2021
Reading Time:3 mins read
Market Wrap: Bitcoin Nears All-Time High As US House Passes $1.9T COVID-19 Relief

  • Bitcoin (BTC) trading around $56,248.28 as of 21:00 UTC (4 p.m. ET). Climbing 3.54% over the previous 24 hours. 
  • Bitcoin’s 24-hour range: $53,101.24-$57,336.75 (CoinDesk 20)
  • BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.

Bitcoin trading on Coinbase
Source: TradingView

Bitcoin gained for a sixth straight day, extending its longest winning streak of the year and approaching the record high price reached last month. 

The largest cryptocurrency was changing hands above $56,000, up about 3% on the day, and within range of a quick run to the all-time high of $58,332. 

“We continue to see strong upward momentum from technicals,” Gary Pike, director of sales and trading at institutional cryptocurrency trading platform B2C2 USA, told CoinDesk. “One should not be surprised for bitcoin to test the old highs and potentially break through.”

The day’s gains came amid fresh evidence of two big bullish market drivers over the past year: Bitcoin’s increasing use as a hedge against inflation in the face of trillions of dollars of economic stimulus, and its increasing adoption by big institutional buyers. 

Read more: Grayscale Halts New Investments in GBTC After Trading at 15% Below Bitcoin

The U.S. House of Representatives on Wednesday passed a $1.9 trillion coronavirus relief bill, already passed by the Senate, that has been a priority of President Joe Biden’s early days in office. Some economists say the extra…

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