Bitcoin Surges to $69,000 After Last Week’s Volatility

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Cryptodnes2024/10/29 01:44

By:Cryptodnes

Bicoin managed to break the $69,000 level after experiencing significant price swings last week.

Last week two major catalysts drove Bitcoin’s price to $66,000 – the rumours about Tether being investigated by the U.S. government and Israel’s attack on Iran’s capital.

Despite the downturn, Bitcoin surged by 2.36% in the past 24 hours to $69,000, surggesting a trend reversal.

During this period $100.73 million were liquidated form the crypto market ($43.04 million in long positions and $57.69 million in shorts).

Analyst Predicts Slower Liquidity Surge for 2025 – What It Means for Markets and Bitcoin

The 1-day technical analysis from TradingView also shows the bullish sentiment inthe crypto market. The summary and moving averages point to “strong buy” at 17 and 14, respectively, while oscillators show “buy” at 2.

At the time of writing, BTC has retraced back to around $68,600.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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