IITMIND: EdTech, Finance and Crypto currencies



With the starting of october, markets are showing bullish trend. Bitcoin, the largest digital asset by market capitalization broke the $28,000 resistance for the first time in last two months and investors hoped that the breakout would pave the way for more substantial gains in the days to come.

We can say if the price of BTC is low, and buying pressure is higher, that means the bottom is nearby. Hence, the press time state of the market pointed towards a dominant bullish sentiment.

According to reports and data, nearly $98M worth of shorts got liquidate resulting in more buying pressure than the selling one. Despite the price rip and short liquidations, the majority of the traders bet in favor of future price drops. Other factors like September month's CPI and Fed's upcoming meeting will conclude more.

At the time of writing this article, BTC is trading around $28,300 (+4.2% in last 24 hours) with a market capitalization of $551 Billion.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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