Bitcoin Approaches $69,000 Amid High Inflows and Short-term Profit-taking
Bitcoin’s (BTC) price surged to a two-month high of over $68,900 on 18 October, prompting traders holding BTC for 1-3 months to record the highest level of inflows. However, profit-taking by short-term holders could delay Bitcoin’s all-time high (ATH). Despite strong bullish trends, these short-term holders might start selling more if the uptrend shows signs of weakness. Technical indicators reveal bullish momentum for Bitcoin as it approaches $69,000. If this trend persists and Bitcoin breaks above $69,000, it may reach a new ATH at $75,250.
