Bitcoin Reclaims $20K Mark After Getting Hammered Last Week

Bitcoin has managed to reclaim and break through its 20k mark after experiencing a turbulent week. The leading crypto was seen at the doors of $20,000 last Wednesday, going up to $20,200. However, it quickly dropped, ending the trading day at $19,042, a 0.49% loss from its starting price. Throughout the week, Bitcoin has tested support levels over $20k but failed to hold on to them. But as of writing, it has broken the resistance and is now trading at $20,370, a 4.8% 24-hour increase. It’s left to be seen if it’ll hold this position in the coming days. Related Reading: Dogecoin On Fire, Rallies After Elon Musk-Twitter Deal Confirmation Bitcoin Tests 20K Thanks To The US Dollar Index Over the past day, the price of BTC has increased by about 4.10%, effectively breaking above the $20,000 threshold. We saw a low of $19,489 and a high of $20,370 in the past 24 hours. Bitcoin price movement in the past weeks may be attributed mostly to the US dollar index reaching a 20-year high of 114.78. However, today’s decline in the DXY index below 111 has helped stock and cryptocurrency markets rebound slightly. At the beginning of the week, BTC had brushed off macroeconomic concerns. Difficulties at Credit Suisse and the intensifying crisis between Russia and Ukraine failed to dampen performance. As a matter of fact, investors are seeking solace in BTC due to the Credit Suisse situation. Bitcoin (BTC) Price Awaits Bullish M...