Traders are betting on a bitcoin rebound next week
BlockBeats News, October 12, according to Cointelegraph, Bitcoin price fluctuated around $112,000 at the weekly close on Sunday, with traders anticipating a rebound in Bitcoin price in the coming days.
Data from Cointelegraph Markets Pro and TradingView showed that after a $1.9 billion crypto liquidation event, volatility has decreased. Although Bitcoin failed to achieve a significant rebound, market participants believe that next week may see stronger performance.
The trading information platform TheKingfisher pointed out that the market may see a liquidity grab near $114,000, while traders are holding a large number of short positions on BTC. The weekend is a good time to trigger BTC range liquidations.
Despite the $1.9 billion liquidation in the crypto market, the bullish uptrend for Bitcoin can still remain intact.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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