Bitcoin (Bitcoin) hit its highest level since mid-September on Oct. 26 as BTC/USD approached the crucial $21,000 mark.
Bears lose big as Bitcoin rises
According to data from Analytical Resources coin glassBitcoin alone has liquidated $550 million in the last 24 hours.
A $704 million Croscript short liquidated on Oct. 25, with a tally of $275 million so far on Oct. 26. Including long positions, his total was over $1 billion.
November lows are still on the table
In debating what the future holds for BTC’s price action, some traders and analysts remained clinging to previous theories, arguing that the previous day’s gains literally had a structural impact.
“The fact that this retracement is happening before the last high is a good sign,” said Crypto’s Il Capo. Said Traveling Twitter followers for the previous day.
“In my opinion, we will see a final push to 21k this week. Timeframes are Oct 27 and Nov 2 (rates). Bottom around mid-November. Key levels: 21k and 14k .”
Fellow commentator Credible Crypto similarly continued to predict that $14,000 would never arrive.
“What I’ve said in the past is not enough changes to make another video update expect a new ATH in 2023 and don’t expect 14k to be filled (disabled) yet We are now waiting for confirmation of its launch,” he said. wrap up.
The last time BTC/USD hit a local high of $20,789 on Bitstamp was September 13th.
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. All investment and trading movements involve risk. You should do your own research when making a decision.