Summary
- Cointelegraph stated that the possibility of Bitcoin reclaiming $100,000 by year-end is increasing.
- Since October 28, Bitcoin's Taker Buy Volume has been on the rise, raising expectations for a future price increase.
- CryptoQuant contributor Burak Ekmeci noted that although the market is overheated, the increase in Taker Buy Volume suggests a potential price rise for Bitcoin.
An analysis has emerged suggesting that Bitcoin (BTC) might attempt to reclaim $100,000 by the end of the year.
On the 26th (local time), Cointelegraph reported, "The possibility of Bitcoin attempting to reclaim $100,000 by year-end has increased," adding, "Since October 28, the Taker Buy Volume of Bitcoin on Binance has been on the rise." It continued, "Forming higher lows about three times generally indicates a strong upward trend," explaining, "The daily low was recorded at less than $5 billion, but it rose to nearly $6 billion on the 15th, and the low reached $6 billion on the 25th."
CryptoQuant contributor Burak Ekmeci stated, "The market is overheated and undergoing a correction," but also noted, "The increase in Bitcoin's Taker Buy Volume suggests a potential price rise for Bitcoin."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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