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$10,000 Today? Bitcoin Price Looks Primed to Break Barrier
With sentiment more bullish than ever, bitcoin prices look likely to test $10,000 levels – and perhaps beyond.
Updated Sep 13, 2021, 7:12 a.m. Published Nov 27, 2017, 12:07 p.m.
Bitcoin's meteoric gains are continuing unabated, with prices looking like they could pass the psychological milestone of $10,000 today.
The world's largest cryptocurrency by market capitalization clocked a new lifetime high of $9,9731.51 at 09:00 UTC, as per CoinDesk's Bitcoin Price Index. That came after blowing past $9,000 over the weekend for the first time – and just over a week after topping $8,000.
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As of writing, the bitcoin-U.S. dollar (BTC/USD) exchange rate is trading at $9,630 levels. Going by CoinMarketCap data, BTC has appreciated by 8.24 percent in the last 24 hours. The cryptocurrency is up more than 800 percent on a year-to-date basis.
rose to $5.4 billion yesterday, the highest level since Nov. 13 – adding credence to the rally's sustainability. Further, Google search volumes for the term "bitcoin" have spiked again.
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So, the technical chart looks more bullish than ever, with prices likely to soon test $10,000 levels – and perhaps beyond.
4-hour chart
The chart above shows no signs of stress, bar the overbought conditions indicated by the relative strength index (RSI). When above 70.00, the RSI indicates overbought conditions and could yield a minor pullback, although major tops are made usually on the back of bearish divergence (lower highs on RSI and higher highs on price) and not just overbought RSI.
The major moving averages – 50-Ma, 100-MA, and 200-MA – are sloping upwards in favor of the bulls.
View
- With the rising trendline (pattern of higher lows on price chart) well and truly intact, bitcoin looks set to test $10,000 today, and may even extend the rally to $10,400 levels as suggested by the bull flag breakout discussed on Nov. 20.
- Only a 4-hour close below the rising trendline would signal a short-term top has been set. At press time, the trendline support is seen at $8,570 levels.
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Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
Telescope observatory image via Shutterstock
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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