Bitcoin (BTC) has gained momentum, currently priced at $62,944.92, approaching the critical resistance level of $65,000. Despite a challenging third quarter, it remains the year's top-performing asset, according to the New York Digital Investment Group.
On October 7, Japanese investment firm Metaplanet announced the acquisition of 108.78 Bitcoin at an average price of $63,600, bringing its total holdings to nearly 640 Bitcoin.
However, there are concerns about short-term performance. CoinShares reported $147 million in outflows from digital investment products last week, attributing this to stronger-than-expected economic data that may hinder significant interest rate cuts.
Bitcoin's price action indicates a bullish trend as it cleared the 20-day EMA hurdle at $62,382 on October 6. Analysts predict potential rises to $65,000 and possibly $66,500, while key support levels to monitor are $60,696 and $60,000.
In broader market movements, Ether (ETH) is consolidating at $2,432.37, while BNB trades at $568.78, caught in a range between $460 and $635. XRP is hovering around $0.5366, with a critical resistance at $0.64. Toncoin (TON) is priced at $5.22, showing signs of potential recovery.
The mixed signals in the market highlight the volatility and uncertainty surrounding cryptocurrencies, which could influence trading strategies globally.