Markets· ★★★· neutral·

Bitcoin heads for second straight losing October, but four signals point to a bottom

  • —Bitcoin trades near $79,935, about 5% above its 50-week average of $75,812
  • —Net long CME bitcoin futures positioning by asset managers is down 57% from the peak
  • —Non-empty BTC wallets have fallen by about 30,000 since October 16
  • —US national debt reached $40.44 trillion with a $1.99 trillion budget deficit
Why it matters: Holding $79,000 would reinforce the bottom signal, while a break lower would delay a reversal; November has historically been weak after a losing October.
#BTC
Source: BeInCrypto RU
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