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1128 Bitcoin fluctuates in the range above 90,000, with 200 million USD Get Liquidated.
1128 Bitcoin market report ✅✅
Bitcoin continues to hover above $91,000, maintaining the gains from the previous two days. Bitcoin rebounded to $90,000, mainly driven by short covering and buying on dips, as well as the market's positive expectations for a rate cut in December. However, market forecasts indicate that Bitcoin may be capped around $92,000 in November, as ETF fund outflows hinder every attempt to break upward.
Market makers indicate that Bitcoin has risen above $90,000 again, and rather than being driven by the crypto industry itself, it is more of a reset of traditional year-end risk appetite. The outflow of ETF funds remains a hurdle, with data showing that traders believe there is an 84% probability that Bitcoin will be capped at around $92,000 this week, as shown in the chart below:
The support zone is still concentrated in the range of $80,000 to $82,000. Currently, under the condition of no changes in macro conditions, the most likely preferred path is a range-bound oscillation pattern.