CandleFocus Bitcoin rises 6% while whales send massive USDT inflows to Binance
2024-10-14
Author: Content Editor
Bitcoin's price surged 6% to reach around $66,000, breaking past the key 200-day moving average. Whales moved significant volumes of USDT into Binance, indicating renewed interest in Bitcoin. The S&P 500 also reached a new all-time high, driven by strong performance from stocks like Nvidia. The sharp rise in Bitcoin's price triggered over $195 million in short positions liquidations, with over 61,000 traders being liquidated and losses exceeding $235 million. Analysts are eyeing the $66,000 to $68,000 range as the next major resistance zone for Bitcoin. Meme coins like Solana, MOG, TURBO, and MOTHER also saw gains. The upcoming US elections and Federal Reserve meeting are expected to influence market sentiment and increase volatility. Polling data shows former President Trump leading the race with 54.9% of the vote, adding to market uncertainty.
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