Bitcoin gets stuck at 87,000 as ADA pulls up nearly 10%
Today, Bitcoin almost touched 87,000 but was pushed back after hitting that level. Now it’s consolidating around 86,600. ADA, however, keeps climbing. Binance spot is at 0.2669, up 9.5% in 24 hours, with a high of 0.2694. Trading volume is about $62 million, and it has already broken above the September 26 high of 0.2654.
Its rise mainly has two reasons. First, shorts are getting squeezed. In the futures market, short positions were already somewhat heavy. In the early hours today, about $580,000 worth of shorts were liquidated within one hour. Forced buybacks pushed the price higher. Second, Cardano will roll out RealFi on October 1, launching tokens like USDrf that connect to real-world credit, bringing new topics to the ecosystem.
In a squeeze-and-rip move, after the push, it often pulls back. And over the past two weeks, it hasn’t managed to stay above 0.27.
I’ll wait for $ADA to retrace back to 0.260–0.263 and hold there before going in with a small position. Take profit at 0.275 and 0.285. If it breaks below 0.253, I’ll admit I’m wrong.
Personal view: control your own position.
#Bitcoin Hits 87,000 to Meet Resistance and Pull Back
Today, Bitcoin almost touched 87,000 but was pushed back after hitting that level. Now it’s consolidating around 86,600. ADA, however, keeps climbing. Binance spot is at 0.2669, up 9.5% in 24 hours, with a high of 0.2694. Trading volume is about $62 million, and it has already broken above the September 26 high of 0.2654.
Its rise mainly has two reasons. First, shorts are getting squeezed. In the futures market, short positions were already somewhat heavy. In the early hours today, about $580,000 worth of shorts were liquidated within one hour. Forced buybacks pushed the price higher. Second, Cardano will roll out RealFi on October 1, launching tokens like USDrf that connect to real-world credit, bringing new topics to the ecosystem.
In a squeeze-and-rip move, after the push, it often pulls back. And over the past two weeks, it hasn’t managed to stay above 0.27.
I’ll wait for $ADA to retrace back to 0.260–0.263 and hold there before going in with a small position. Take profit at 0.275 and 0.285. If it breaks below 0.253, I’ll admit I’m wrong.
Personal view: control your own position.
#Bitcoin Hits 87,000 to Meet Resistance and Pull Back
