Bitcoin Climbing Toward Record Levels—How Should Traders Respond?
Bitcoin surged to $70,218, marking a 2.6% increase against the U.S. dollar before slightly retreating to $69,723.
This price movement is significant as bitcoin has not reached the $70K range since July 28, 2024. The crypto market is buzzing with a total valuation of $2.31 trillion and a trading volume of $84.06 billion in the last 24 hours, indicating a strong interest. Notably, bitcoin dominance stands at 59.8%, while the Crypto Fear and Greed Index reflects a score of 72, signaling “greed.”
Upcoming events like the U.S. election on November 5, the GDP report, and the FOMC meeting could further influence market dynamics. As bitcoin nears its all-time high of $73.7K, investor anticipation grows for potential breakthroughs or resistance in the coming week, shaping the outlook for year-end market activity.
Clever Robot News Desk 30th October 2024
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