Bitcoin Price Now Eyes $11K as Historical Data Metric Flips Bullish

Bitcoin price was targeting $10,500 on Sept. 3 as the latest renaissance for the largest cryptocurrency saw it deliver surprise gains.

Bitcoin price reverses losses to challenge $10.5K. Data from Coin360 tracked BTC/USD as it rose 6.2% in 24 hours beginning Monday night.

At press time, those higher levels appeared to be holding, with Bitcoin circling $10,400 for the past 12 hours.

Now, the bullish sentiment was continuing, with DTAP Capital founder Dan Tapeiro highlighting one metric in particular - Bitcoin's DeMarker Indicator - which, he said, suggested more gains.

Keiser: Craig Wright can trigger Bitcoin all-time high.

Others were more brazen in their belief, with RT host Max Keiser even pointing to developments in the court case involving Australian cryptocurrency developer, Craig Wright, as being able to influence Bitcoin markets.

According to Keiser, Wright's alleged lack of ability to pay the giant $5 billion in Bitcoin ordered by a judge last month will protect markets from selling pressure.

A theory currently circulating postulates that the self-confessed creator of Bitcoin does not have notable BTC holdings.

"#Bitcoin market discounting fact that CSW never had the Bitcoin to begin with, so he obviously can't pay the 1/2 M coins the court is ordering him to.

Other tokens in the top ten managed between 1% and 4%, while Binance's in-house token Binance Coin matched BTC. The overall cryptocurrency market cap, as Cointelegraph already noted, shifted to 70.5% Bitcoin for the first time since March 2017.Keep track of top crypto markets in real time here.