Kryptodata

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Bitcoin price reaches 3-month high near $31K, prompting crypto traders to advise caution

Bitcoin price reaches 3-month high near $31K, prompting crypto traders to advise caution

Bitcoin reached new three-month highs on October 23, with its first weekly close above $30,000 since the summer. It is now approaching key long-term resistance levels, including the 2023 high at $31,800. Traders are cautious but optimistic, expecting a potential explosive move once the resistance level is breached. Altcoins are also experiencing gains alongside Bitcoin, which is a new market setup not seen in previous resistance tests. Altcoin positions are said to be profitable, and the next few months are expected to bring significant developments in the cryptocurrency market. Bitcoin is currently pressuring $31,000, with the Wall Street open approaching.

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