Bitcoin is flashing green as Square converts some of its cash to crypto while ether options traders are making lots of bets for December expiration.
Bitcoin (BTC) trading around $10,890 as of 20:00 UTC (4 p.m. ET). Gaining 2.1% over the previous 24 hours.
BitcoinÃ¢ÂÂs 24-hour range: $10,532-$10,962
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
BitcoinÃ¢ÂÂs price popped Thursday, led higher almost immediately following the announcement that payments firm Square had invested $50 million to purchase 4,709 BTC. The development pushed the price per 1 BTC to as high as $10,962 before settling to $10,890 as of press time.ÃÂ
Read More: Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment
Related: The Market Reacts to SquareÃ¢ÂÂs $50M Bitcoin Buy
Ã¢ÂÂNews that Jack DorseyÃ¢ÂÂs Square has purchased about $50 million worth of bitcoin is a definite positive that appears to have