Bitcoin rebounded after hitting a seven-week low of $75,618 following Democrats’ victories in the US House and Senate during the midterm elections. Long-position liquidations across the crypto market reached $288 million over 24 hours before bitcoin climbed to $78,039. Analysts identified $75,733, the 50-week simple moving average, as a key level determining whether the decline could deepen. Rekt Capital said a move toward $78,000 could nevertheless be followed by a retreat toward $75,500.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
