Bullish trend reversal underway as Bitcoin price holds above $11,000

Within the last few hours, Bitcoin (BTC) price surpassed $11,000 in a swift turnaround from its swing low at $10,500 in early October. Analysts have attributed three major factors to BTC’s abrupt trend reversal.

The potential catalysts are whale accumulation, a spike in institutional demand and the strength of the $10,500 support.

Whales are either accumulating or refusing to sell

Earlier this week, Cointelegraph reported that activity within whale clusters pointed to strong buying demand…


Source link

About bitcoin

Check Also

Guggenheim's Minerd Predicted Bitcoin at $15K and $400K, Now He's Out Entirely – Yahoo Finance

Associated Press Ready to run: Panthers’ offense will look ‘vastly different’ Coach Matt Rhule promised …

Leave a Reply

Your email address will not be published. Required fields are marked *