... before profit taking brought it down to around $61,000. Here is the one-day chart:
The move from $56,950 to $63,734 in a single day is a 12% move. HUGE in a single day. Especially as there was no particular new information to trigger it. Over the course of a week, it has gained 20%.
People believed that with the introduction of futures, ETFs and Wall Street money it would be too difficult to move bitcoin by more than a few percent.
But here's bitcoin pumping like it's 2013!
I think the reason is that bitcoin still lacks liquidity. Most bitcoin is held off-chain in cold wallets. (Moving coins into personal wallets accelerated after FTX and other exchanges went bust).
We might see a dip in the price in the next week as people move their coins back to the exchanges to cash out.