Why The Bitcoin Bounce Off $66,000 Is Not Entirely Bad News

Quick Summary:

The Bitcoin price action in the past two weeks has reiterated its volatile nature despite the steady flow of institutional money.

The cryptocurrency surged in the last days of September from $53,500 to a high of $66,000, only to pull back to $61,000 in the first few days of October, showing its unpredictable nature.

This notable Bitcoin development was noted by on-chain analytics platform Glassnode in a recent report.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: Hungary

Topics: Btc price Btcusd Bitcoin Bitcoin BTC news Bitcoin price BTCUSDT Btc Bitcoin news

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-05 @ 06:00:18 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 470 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22892860

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 11 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 11 hours ago

Coverage Areas: Hungary

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