Bitcoin Blasts Past $68K as 6% Rally Puts $70,000 Within Reach

Bitcoin jumped above $68,000 on Wednesday, extending a dramatic intraday recovery as risk assets climbed with US government bonds.

The largest digital coin cut through the resistance level around $68,000 that has repeatedly tripped up a recovery over the summer, triggering fresh focus on $70,000. When the market closed, BTC was quoted at about $68,750, up 6.1% on the day.

It had opened the day around $64,000-$65,000 and buying accelerated as the day progressed. Including the advance, the asset managed to hit just under $69,700, or less than 1% below $70,000.

Additionally, CoinMarketCap data suggests the 24-hour trading volume during the movement was around $30.7 billion, a more than 42% increase that suggests the advance was met with some increased activity.