Bitcoin bulls are keen to hit $70,000, but a selloff at this level could trigger a sharp downside in BTC and altcoins.
Markets news
Analysts warn that Bitcoin price might not be going “to the moon” all in one go.
Multiple onchain metrics showed a surge in activity as Bitcoin price rallied to $68,000, possibly signaling that the price momentum is sustainable.
BTC’s price reached its highest level since late July, but US dollar strength is starting to undermine Bitcoin bulls’ confidence.
DOGE price staged a double-digit rally over the past week as memecoin traders took new positions, expecting more upside.
Bitcoin short-term holders waste no time in sending coins in profit to exchanges for a mass profit-taking event.
Today’s LTC price surge comes after Canary Capital filed for a spot Litecoin ETF and Bitcoin reached a multimonth high.
Bitcoin’s failure to hold $68,000 could be an early sign that a price reversal is beginning.
Bitcoin open interest is rising and bulls are eyeing new all-time highs above $75,000 as “Uptober” begins to take shape.
The crypto market is up today, following a bullish performance from US equities markets and increasing traders’ demand for crypto investment products.