Bitcoin (Bitcoin) The return of $57,000 on October 13th was a classic move that allowed hopeful traders to liquidate $200 million.
Traders believe that the price trend is similar to August
Reminiscent of multiple such surges in the past week, Bitcoin rose 5.5% that day, rematching the five-month high.
Cointelegraph writer Michaël van de Poppe “This correction of Bitcoin is very similar to the price movement in August” Comment.
“It was just a few days of minimal correction, after which Bitcoin continued to rise, while altcoins fell in its $BTC currency pair.”
At the same time, trader and analyst Rekt Capital confirmed that the lows of BTC/USD were higher during the retracement period, which further strengthened it.
#BTC Form a higher low during the fall and continue to maintain the blue level as support
— Rekt Capital (@rektcapital) October 13, 2021
Futures holdings surged by more than 70%
at the same time, data Derivatives show that CME Bitcoin futures open positions have soared in the past month, further boosting optimism about future price trends.
The commentator said that although it is still below the historical high since February, this trend is encouraging, considering the possibility that traders may conduct futures-based transactions in advance. Exchange Traded Fund (ETF) Approval In the U.S.
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