Editor's PiCK
Bitcoin (BTC) maintains bullish momentum…challenges record all-time monthly closing price
Summary
- Bitcoin (BTC) has rebounded and is challenging the all-time highest monthly closing price, the analysis said.
- It maintained bullishness for most of the third quarter and was able to form a bottom below 110,000 dollars.
- It analyzed that there is sufficient room for further upside in the fourth quarter.
Swissblock's Bitcoin (BTC) analysis account 'Bitcoin Vector' said on the 29th (local time) via X (formerly Twitter) "BTC has rebounded and is challenging the all-time highest monthly closing price." The previous all-time highest monthly closing price was 115,750 dollars, recorded at the end of July.
Bitcoin Vector said, "From a fundamental perspective, except for early July, it maintained bullishness for most of the third quarter," and "Although some risk-off signals appeared in mid-August, it did not enter a high-risk phase, allowing BTC to form a bottom below 110,000 dollars."
It added, "Unless BTC enters a high-risk phase along with a weakening of fundamentals, a shift to bearishness will not occur," and analyzed that "there is sufficient room for further upside in the fourth quarter."
BTC is trading at 114,303.63 dollars, up 3.07% from the previous day on the Binance Tether (USDT) market as of 05:39 on the 30th.
JH Kim
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