Crypto News – The month of October has put some pressure on crypto bearishness. Bullish patterns in October’s past suggest that the pressure may only be beginning to build.
Bitcoin Passed 28K Dollars Level, Short-Sellers Are in a Difficult Situation
As Bitcoin (BTC) hit the $28,000 level after spending nearly a month below it, the previous 24 hours have been difficult for short-sellers. This led to the liquidation of short positions worth over $100 million. Particularly in the previous 12 hours, the markets indicated a sharp increase in price. The data indicates that short positions worth more than $84 million were to be liquidated in the last 12 hours alone.
The Crypto Community Believes It’s Time for a New UPtober for Bitcoin
According to the picture that follows, historically, October has been a positive month for Bitcoin. Only twice since 2013 have BTC’s returns been negative, in 2014 and 2018. The term “Uptober,” which alludes to the traditional bullish price movement for October, was coined by certain members of the Bitcoin community as a result.
Is it another UPtober for Bitcoin??
Crypto community
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