Uptober has begun, ladies and gentlemen!
Bitcoin is back above $85,000–$86,000 and has gained about 2–3% in the last 24 hours.
The market has already priced in the seasonal rally, and those waiting for the "perfect pullback" risk watching the rise from the sidelines.
It is still far from the all-time high. At the current $86,000, this is not the finish line but the midpoint of the journey.
The sell wall at $85,000 has been absorbed, short positions worth hundreds of millions have been liquidated in the last 24 hours, and exchange-traded funds saw the best inflows of the year last week. Exchange supply is low, and demand from funds is not ending.
The only brake today is the evening US employment report.
Weak figures will open the road to $90,000 before the weekend, while strong figures may dampen the momentum.$BTC
Bitcoin is back above $85,000–$86,000 and has gained about 2–3% in the last 24 hours.
The market has already priced in the seasonal rally, and those waiting for the "perfect pullback" risk watching the rise from the sidelines.
It is still far from the all-time high. At the current $86,000, this is not the finish line but the midpoint of the journey.
The sell wall at $85,000 has been absorbed, short positions worth hundreds of millions have been liquidated in the last 24 hours, and exchange-traded funds saw the best inflows of the year last week. Exchange supply is low, and demand from funds is not ending.
The only brake today is the evening US employment report.
Weak figures will open the road to $90,000 before the weekend, while strong figures may dampen the momentum.$BTC
