Bit (BTC) fluctuated between $66,600 and $67,400 over the weekend, until last night around 8 o'clock when it started a stronger upward trend, reaching a high of $68,344 in the early morning (28th).
Just before the deadline, it has retreated slightly and is currently trading at $67,780, with a 24-hour gain of 1.25%. Whether it will challenge the previous high of $69,500 set on October 21 remains to be seen.
Ethereum Breaks Through $2,500
Ethereum's trend is similar to Bit, reaching a high of $2,528 in the early morning, and is currently trading at $2,497, up 1.25% in the last 24 hours.
Top 10 Tokens Rebound Across the Board
CoinMarkeCap data shows that other top 10 tokens have also mostly risen in the last 24 hours, with SOL and Doge being the stronger performers, up 2.47% and 3.55% respectively.
$68 Million in Liquidations Across the Network in a Single Day
Coinglass data shows that over the past 24 hours, the total amount of crypto liquidations across the network was around $68.79 million, with over 35,000 people being liquidated. However, the overall liquidation volume over the weekend was not too high, so volatility is expected to increase further.
Will Bit Break Through to a New High?
Kraken analysts released a report on the 26th analyzing that as long as Bit remains above $66,500, it is still in an uptrend, with Bit above all major moving averages, indicating that the bulls continue to dominate. As long as it continues to rise, the next key level will be the historical high of $73,679 set in March:
A successful break above this level could open the door to new price discoveries and further upside momentum.
Market Highlights This Week
10/29 (Tue)
- US: October Consumer Confidence, Previous 98.7
- US: September JOLTS Job Openings, Previous 8.040M
10/30 (Wed)
- Germany: Q3 GDP (QoQ), Previous -0.1%
- Switzerland: Central Bank Press Conference
- UK: Autumn Budget
- US: October Nonfarm Payrolls, Previous 143K
- US: Q3 GDP (QoQ), Previous 3.0%
- Germany: October CPI (MoM), Previous 0.0%
- US: Crude Oil Inventories, Previous 5.474M
10/31 (Thu)
- China: October Manufacturing PMI, Previous 49.8
- Japan: Interest Rate Decision, Previous 0.25%
- Hong Kong: Q3 GDP (QoQ), Previous 0.4%
- Hong Kong: Q3 GDP (YoY), Previous 3.3%
- Eurozone: October CPI (YoY), Previous 1.7%
- US: September Core PCE (YoY), Previous 2.7%
- US: September Core PCE (MoM), Previous 0.1%
- US: Initial Jobless Claims
11/1 (Fri)
- US: October Average Hourly Earnings (MoM), Previous 0.4%
- US: October Nonfarm Payrolls, Previous 254K
- US: October Unemployment Rate, Previous 4.1%
- US: October ISM Manufacturing PMI, Previous 47.2
- US: October Manufacturing PMI, Previous 47.8
