Bitcoin bounced 1.68% to reach $84,199 on Sunday October 11th, driven by buying pressure targeting short liquidations. A total of $208.64 million in liquidations were recorded over 24 hours, including $148.79 million in short positions. The $84,000-$85,000 zone represents the largest distribution zone to watch, according to analysts. The Bitcoin Young Supply Index rose from 1.4 to 13.2 since June, signaling fresh money entering the ecosystem. The market would still be in an accumulation phase, and the actual bull run has yet to begin.
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