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…

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