CandleFocus Why is Bitcoin up today? 3 key indicators to watch for this week
2024-10-14
Author: Content Editor
Bitcoin's price surged over the weekend, reaching above $64,000. Analysts predict that the month of October could lead to a bull run, with BTC potentially trading above $70,000. The current BTC price stands at $64,424, showing a 2.5% increase in the last 24 hours. On-chain data suggests that the bullish momentum from the previous week may continue. Analysts see the $65,000 level as a critical hurdle for Bitcoin's bulls, but indicators such as the Relative Strength Index (RSI) and BTC/USDT order book liquidity chart indicate strong demand and significant price targets. While some analysts offer a slightly cautious outlook, overall sentiment remains bullish. This rally could be the result of the BTC halving in April and the anticipated approval of Spot BTC ETFs in January.
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