Bitcoin Surges to $114K as Traders Show Renewed Confidence
- Bitcoin (BTC) reached a daily high of $114,000, while Ether (ETH) peaked at $4,110.
- Solana’s SOL attempted to break the $200 mark with a rally to $198.
- Bitcoin futures open interest increased from $28 billion on October 11 to over $32 billion.
- The recent rally was supported by rising funding rates in the futures markets.
- Analysts noted that traders are targeting liquidity zones between $114,000 and $115,000.
The resurgence in trading volume indicates a growing confidence among traders following significant sell-offs earlier this month. Despite this positive momentum, analysts caution that sellers may continue to close profitable positions at intra-day highs.
As Bitcoin’s price stabilizes post-sell-off, it absorbed liquidity in the key range of $114,000 to $115,000.(Source)
