BTC breaks $21,000, as ETH sets new 2-month high on Saturday.
/USD climbed to a peak of $21,054.38 earlier in today’s session, which comes after prices were at a bottom of $18,793.66 on Friday.
This spike in price saw bitcoin add as much as 10% to its value in the last 24 hours, hitting its strongest point since November 5 in the process.Looking at the chart, the rally came as the 14-day relative strength index continued to surge. It is now tracking at 89.22. Typically, a reading of 70.00 is seen as overbought, and with this print, which is its highest point in two years, we are deep in bear territory.
When price becomes overbought, many expect bearish sentiment to grow, as traders begin to short the market.
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