Bitcoin

Coin

<ul class="news-points"> 
 <li><strong>Bitcoin’s November retreat after “Uptober” hints at traders taking profits amid cooling market sentiment.</strong></li> 
 <li><strong>Liquidations and declining trading volumes are affecting Bitcoin’s current trajectory.</strong></li> 
 <li><strong>Despite short-term fluctuations, institutional interest and a positive long-term outlook keep Bitcoin’s future bullish.</strong></li> 
</ul> 
<p>After riding the wave of “Uptober,” Bitcoin is facing a reality check as November ushers in a cooler market climate. Despite the euphoric 27.9% leap the previous month, <a href="https://coinedition.com/tag/bitcoin-btc-news/">Bitcoin</a> has seen a modest retreat, shedding 3% in a day’s trade. Traders, buoyed by the recent halt in interest rate hikes, are exiting their positions, perhaps looking to cash out some gains from the rally.</p> 
<h2 class="wp-block-heading" id="h-liquidity-and-profit-taking"><strong>Liquidity and Profit-Taking</strong></h2> 
<p>After an eventful October marked by significant price movements that led to Bitcoin reaching its highest point of the year, a different trend is emerging in the subsequent period. As November begins, long Bitcoin positions are facing the heat, with over $21.1 million liquidated in just half a day on the 2nd. This shift has clipped Bitcoin’s wings, with trading volumes declining significantly from the $14.7 billion peak late last month.</p> 
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   <em>BTC/USD 24-ho…</em>
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<p>The post <a href="https://coinedition.com/bitcoins-uptober-rally-succumbs-to-profit-taking-as-bears-dominate/">Bitcoin’s ‘Uptober Rally’ Succumbs to Profit-Taking as Bears Dominate</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Bitcoin’s ‘Uptober Rally’ Succumbs to Profit-Taking as Bears Dominate

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