Bitcoin heads for a red October, but four bullish signals hold
- —BTC at $79,935 trades about 5% above its 50-week average of $75,812
- —Net asset-manager longs in CME bitcoin futures are down 57% from the peak
- —About 70% of short-term holders' BTC supply is in profit, versus nearly all in late September
- —The number of non-empty BTC wallets has dropped by 30,000 since Oct. 16
Why it matters: A monthly close above $79,000 would confirm the bottom signal, a break lower would delay it, and a reclaim of $82,500 would reinforce it.
Source: BeInCrypto DE