Bitcoin price at the time of writing traded at $12,873.76 with a daily trading volume of $25,438,932,778. BTC price is up 0.9% in the last 24 hours. It has a circulating supply of 19 Million coins and a max supply of 21 Million coins
Why it is happening: Global investors and crypto-traders are now preserving some of their profits in digital assets, as the crypto market is awash with cheap money coming from stimulus packages from global central banks and global inflation hitting a record high.
While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.