Sellers move aside for new multi-week highs
The day’s high marked Bitcoin’s best performance since Sep. 13, beating previous local peaks.
Material Indicators, which provided the order book charts, noted that above-expected United States unemployment figures may be aiding risk assets by increasing the chances of a Federal Reserve interest rate pivot.
“Note, that one month’s report doesn’t make a trend, but right or wrong, this market reacts to every data point.”
“This was just a pullback from a bigger bullish extension. The major peak is not in yet, but the bottom zone is here,” a tweet read.
“The cycle continues.”
$30,000 on the cards for November
Macro markets performed similarly strongly on the day.
An hour after the open, the S&P 500 was up nearly 2% and the Nasdaq Composite Index up 1.75%.
“It’s time for the run towards $30k in coming weeks.”
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