Bitcoin; Ethereum, Ripple, Solana, and many altcoin projects continue to recover to regain the upward momentum typically associated with “Uptober” in the crypto market. As crypto assets continue their positive growth, the total crypto market value reached $1.15 trillion on October 23, with Bitcoin trading at $31,033 at the time of writing.

비트코인; Ethereum, Ripple, Solana 및 많은 알트코인 프로젝트는 암호화폐 시장에서 일반적으로 "Uptober"와 관련된 상승 모멘텀을 되찾기 위해 계속해서 회복하고 있습니다. 암호화폐 자산이 긍정적인 성장을 이어가면서 전체 암호화폐 시장 가치는 10월 23일에 1조 1500억 달러에 달했으며, 이 글을 쓰는 시점에 비트코인 ​​거래액은 31,033달러였습니다.

Fund Inflows Accelerate

October is referred to as “Uptober” based on historical data due to the positive returns in the cryptocurrency market. The Bitcoin and cryptocurrency market volume increased from $1 billion to $2.7 billion on October 15, and the total trading volume has not fallen below $1 billion since October 13.

10월은 암호화폐 시장의 긍정적인 수익률로 인해 과거 데이터를 기준으로 "Uptober"라고 합니다. 비트코인 및 암호화폐 시장 규모는 10월 15일 10억 달러에서 27억 달러로 증가했으며, 10월 13일 이후 총 거래량이 10억 달러 이하로 떨어지지 않았습니다.

Bitcoin’s positive returns in October and the increase in volume, with gains achieved more than three times during the month, create an optimism surrounding the increase in volume. October statistically is one of the strongest months for Bitcoin gains, delivering a return of 11.2% so far in 2023.

The strong performance in October coincided with a period of increased inflows into the cryptocurrency market. Four consecutive weeks of inflows were observed in the cryptocurrency market. In the 42nd week of 2023, total inflows reached $66 million.

Halving Time is Running Out

반감기 시간이 얼마 남지 않았습니다

Bitcoin. is regaining its dominance in the cryptocurrency market ahead of the halving event scheduled for April 2024. For the first time since June 28, Bitcoin’s market share is above 50% compared to the total cryptocurrency market value. Bitcoin dominance surpassed 51% on October 23.

Typically, when Bitcoin’s market dominance ends, the focus turns to altcoins. This dominance comes immediately after Bitcoin models indicating the potential for reaching $130,000 following the 2024 BTC halving event. Despite these models, analysts suggest that for Bitcoin to avoid the bearish fractal indicated in the charts, it needs to surpass the $31,000 resistance level.

일반적으로 비트코인의 시장 지배력이 끝나면 초점은 알트코인으로 전환됩니다. 이러한 지배력은 2024년 BTC 반감기 이벤트 이후 $130,000에 도달할 가능성을 나타내는 비트코인 ​​모델 직후에 나타납니다. 이러한 모델에도 불구하고 분석가들은 비트코인이 차트에 표시된 약세 프랙탈을 피하려면 31,000달러 저항 수준을 넘어야 한다고 제안합니다.

Losses Increase in Futures Trading

선물거래 손실 증가

With the rally in the cryptocurrency market, over $91 million worth of short positions were liquidated within 24 hours. Bitcoin had the highest number of short position liquidations, with $37.3 million worth of short positions being wiped out, while the largest single liquidation occurred in the Bitmez exchange with a $2.23 million Ethereum short position.

Despite the losing streak of investors who prefer short positions in the futures market, 66% of the futures market is taking a long position. The continuation of short positions could potentially lead to a short squeeze and further price increases.

계속 읽기: https://en.coin-turk.com/crypto-market-continues-to-rise-as-fund-managers-sell-bitcoin-due-to-dogecoin/