Bitcoin, Ethereum, Dogecoin Printing Green Candles, But 'October Will Print Way Greener Candles,' Says Optimistic Trader

Cryptocurrency markets are spiking, with Bitcoin reaching its highest level since early August.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$65,048	+3%
Ethereum ETH/USD	$2,653	+2.8%
Solana SOL/USD	$156.58	+4%
Dogecoin DOGE/USD	$0.1183	+7.8%
Shiba Inu SHIB/USD	$0.00001841	+18.3%

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 2.1% and daily active addresses falling by 4%. Transactions greater than $100,000 are up from 8,367 to 8,415 in a single day. Exchanges netflows are down by 85.8%.
• According to Coinglass data, 63,123 traders liquidated in the past 24 hours for $149.18 million.

Notable Developments:

• Maxine Waters Says ‘Crypto Is Inevitable,’ Other Countries Are ‘Way Ahead’ Of The United States
• PayPal Steps Up Crypto Game, Allows US Merchants To Buy, Sell, And Hold Digital Assets
• Bitcoin Shines As Hedge Against ‘Major Geopolitical Events,’ Says Research Firm
• Bitcoin’s ‘Uptober’ Is Coming, $100K Is The Target For Q4, Says Trader

Top Gainers:

Cryptocurrency	Price	Gains +/-
Shiba Inu SHIB/USD	$0.00001841	+18.3%
Wormhole (CRYPTO: W)	$0.2965	+17%
Ethena ENA/USD	$0.364	+15.3%

Trader Notes: With Bitcoin prices trading higher beyond $65,000, crypto trader Jelle stated that the past six months were about not being shaken out, but the next six months "will be about making sure we walk away with a win."

He advised traders to "take profits in the coming months."

Crypto trader Bully explains that despite several rejections, Bitcoin has reached $65,000 on time. He states, "As long as $64,400 holds, we can easily expect price to fill the wick."

Bitcoin $65k reached on schedule✅

A lot of posts about nasty rejection and that's true, around 1k BTC sells filled on spot across exchanges

But taker bid has been strong to eat that up, passive bids are being moved up to chase price

As long as $64.4k holds, we can easily… https://t.co/iUwEvO9ZvM pic.twitter.com/7dCeLq7xHB

— Crypto Bully 🔥 (@BullyDCrypto) September 26, 2024

Stockmoney Lizards marked Bitcoin at a 30-day high, but it is still within range and below the new all-time high set six months ago. He concluded, "October will print way greener candles. $100,000 year-end target!"

Crypto trader Skew analyzes Bitcoin on the four-hour charts. He still sees some wicks below $65,000, but if the price is maintained above the previous high there is a big daily close coming up.

$BTC 4H
Nice HH here, would like to see how structure develops from here

still could see some wicks below $65K but ideally want to see price maintaining above previous high

big daily close coming up https://t.co/kih2AUpcOu pic.twitter.com/Hgqkl3GgBc

— Skew Δ (@52kskew) September 26, 2024

Read Next:

• SEC Chair Gensler Says Crypto Will Not Persist Without Investor Protection: ‘The Automobile Wouldn’t Have Survived If You Didn’t Have Traffic Lights’