Bitcoin price breaks $11K, crypto traders optimistic about BTC’s action

The price of Bitcoin (BTC) has seen a recovery during the past week, surging by nearly 6.5% since Oct. 2. The resilience of the dominant cryptocurrency has traders pleasantly surprised, as many analysts anticipated a larger pullback. Following BTC’s rebound above the critical $10,500 support level to just over $11,000, the sentiment is turning optimistic.

In the near term, traders believe $10,500 remains the most critical level for Bitcoin for numerous reasons. Most notably, it represents a…

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