Bitcoin climbed past $85,000 as shorts closed. Will buyers stay after the jobs report?
Short covering and ETF demand helped lift bitcoin, while traders watch whether the rally holds after the employment data.
8 Articles
8 Articles
Bitcoin climbed past $85,000 as shorts closed. Will buyers stay after the jobs report?
Bitcoin reclaimed $85,000 on October 2 before the United States released its September employment report. The rally arrived with reports of short positions closing and a softer dollar, but a trader buying back a losing short is not the same…
The leading cryptocurrency, Bitcoin, made a strong start to October. Having been stuck in the $82,000-$85,000 range at the end of September, BTC broke above this consolidation zone and rose to levels around $86,900. Whether the uptrend for BTC will continue is being closely watched, while global and cryptocurrency markets are focused today on the critical employment data coming from the US. The main reason for this is that employment […] Source:…
BTC USD Nears $87,000: Can Uptober Survive Payrolls Data?
BTC USD trades near $86,400 on Friday, October 2, up about 3.1% over 24 hours, as Bitcoin extends its third straight weekly gain. Earlier, it touched $86,650. Traders are betting on October’s strong track record, but the U.S. nonfarm payrolls report due later today could reset expectations for Federal Reserve rates. Bitcoin is up 2.6% this week after a 6.4% rise in September, its third monthly gain in a row. Still, it sits about 1.5% below its y…
Crypto Shorts Lose $110M In Ten Minutes As Sudden Rally Forces Traders Out
TL;DR Roughly $110 million in bearish crypto positions were liquidated during a rapid ten-minute rally on October 2. The move was concentrated on short positions, creating the mechanics of a classic short squeeze. No single verified news catalyst explains the burst, so the market event should be read through leverage and positioning rather than an invented headline trigger. Crypto traders were given another reminder of how quickly leverage can t…
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