CandleFocus Heavy Sell-Off Pushes Bitcoin to $58.8K, Cautious Buying Fuels Modest Recovery
2024-10-11
Author: Content Editor
The price of bitcoin experienced a dip to $58,867 but quickly rebounded above $60,000, suggesting a potential recovery. Trading volume spiked during the sell-off but gradually declined as the price recovered. Indicators like momentum and MACD hint at a bullish trend, despite market uncertainty. $191.13 million in liquidations were settled on Oct. 10, with a trader on Binance losing $10.51 million. South Korea's bitcoin premium stood at 1.23%, while Coinbase's Premium Gap was at a negative $46.86. Bitcoin's market value was $1.19 trillion, giving it over 56% dominance in the crypto market. Traders are hesitant due to concerns about sustainability in price recovery.
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