Bitcoin rebounded by 5.5% after touching $62,029 on Bitfinex early Sunday, later reaching $65,487. Blockstream CEO Adam Back, one of Satoshi Nakamoto’s earliest contacts, shared a chart of the rebound with the caption “Bouncy.” The cryptocurrency has nevertheless lost about 20% over the past month after falling below its 200-day moving average near $73,000. On November 13, exchanges liquidated $1.65 billion in positions, while investors withdrew nearly $3 billion from U.S. spot Bitcoin ETFs. Back maintains his forecast of Bitcoin exceeding $1 million by the end of the 2028 cycle and expects banks and pension funds to become the third wave of demand.
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