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Sujit Kumar
Oct 14, 2024

Bitcoin Reclaims $64,000 Amidst Market Uncertainty

Bitcoin Reclaims $64000
Bitcoin, the largest cryptocurrency by market cap, has once again crossed the $64,000 mark, according to data from CoinGecko. After experiencing slight corrections, Bitcoin is now trading at $63,802 on the Bitstamp exchange. The recent price surge led to the liquidation of nearly $67 million worth of short positions in the last four hours, as reported by CoinGlass.

Bulls Yet to Take Control

Despite these gains, Bitcoin's upward momentum remains uncertain. Popular trader DonAlt recently stated that bulls would need to push Bitcoin above $65,000 to regain full control of the market. Currently, Bitcoin is still down by over 13% from its all-time high, achieved back in March. If Bitcoin fails to sustain its current rise, it could be on track to record its longest stretch of range-bound trading.

Outlook Remains Cautious

Bitcoin’s recovery to the $64,000 level offers a glimmer of hope, but market participants are still waiting for a decisive breakout. Traders and investors are keeping a close eye on whether Bitcoin can push past the critical $65,000 resistance to establish a more bullish trend in the short term.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Bitcoin Reclaims $64,000 Amidst Market Uncertainty
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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