Traders say that Bitcoin price consolidation “may be over” because Ethereum and Polkadot hit record highs


Bitcoin (Bitcoin) In line with the continuation of its bull market, the new analysis shows that because BTC/USD maintains its daily gain of 2.2%.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

62,500 USD follows BTC price rebound

As data from Cointelegraph Markets Pro with Transaction view Tracking Bitcoin’s best day in a week, confidence in a higher level is building.

Early on Tuesday, November 2nd, the largest cryptocurrency Quit suddenly A horizontal trading channel increased by nearly $2,000 in more than an hour.

In the voice of a potential breakthrough, popular trader Pentoshi believes that $62,500 may be the only opportunity for buyers to “buy on dips.”

“Any correction of $BTC to 62.5k is a good bidding area,” he said Suggest Twitter followers and accompanying chart.

“It looks like the integration may be over and ready to trend again.”

BTC/USD annotated chart.Source: Pentoshi/Twitter

As Wall Street is about to open, market participants are confident, and analyst TechDev called for the stock price to break through the historical high of $67,100.

related: 11/1 Price analysis: BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE, LUNA

Ether (Ethereum) Is the altcoin with the largest market capitalization. It hit a record high of US$4,482 on Tuesday and set a record in the previous few days.

ETH/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

The top 10 cryptocurrencies by market capitalization were led by Polkadot (DOT), which rose 15% to US$52 on the day-which in itself is a record high after itself October Rally.

Bitcoin De facto hit Its “worst case” monthly closing price is October, so it is still expected to reach nearly $100,000 by the end of this month.

ETH and DOT record highs

The bullish sentiment also comes from the recovery of altcoins.