Bitcoin Price Struggles at $80K, but MEXC CEO Sees Bullish Signals

Bitcoin’s price reclaimed the $80,000 level twice on Monday, hovering near $80,100 amid rangebound trading between $79,500 and $80,500. Leveraged long liquidations were approximately $36 million, or 65% of all bitcoin liquidations. Bitcoin’s price reclaimed $80,000 twice on Monday as the cryptocurrency appeared poised to continue a downward trend that began at the start of the month. The decline has largely extinguished hopes of an “Uptober” rally, which many analysts predicted would deliver the cryptocurrency’s largest monthly gains of the year. According to market data, before reclaiming $80,000, bitcoin had progressively fallen from above $80,800 to $79,260, its lowest point since Sept. 18. Shortly after midnight, however, the cryptocurrency rebounded to nearly $80,500 about six hours later.

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.