$33M In Bitcoin Shorts Wiped Out After Apex Crypto Flirts With $35K, 'Greed' Levels Soar As Interest Rates Stay Put
Portfolio Pulse from Mehab Qureshi
Bitcoin shorts totaling over $33 million were liquidated in the last 24 hours, coinciding with the Federal Reserve's decision to keep its policy unchanged. Bitcoin is currently trading above $35,400, surpassing the $35,000 resistance level. The Fear and Greed Index indicates that Bitcoin market sentiment is at a level of 72, reflecting 'Greed' among investors. The approval of the first U.S.-based Bitcoin spot exchange-traded fund (ETF), predicted by J.P. Morgan to possibly occur before January 10, could add further momentum.
November 02, 2023 | 3:33 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bitcoin shorts of over $33 million were liquidated as Bitcoin surpassed the $35,000 resistance level. The approval of the first U.S.-based Bitcoin spot ETF could add further momentum to Bitcoin's price.
The liquidation of Bitcoin shorts and the surpassing of the $35,000 resistance level indicate a bullish sentiment in the market. The potential approval of the first U.S.-based Bitcoin spot ETF could further increase demand for Bitcoin, potentially driving its price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100