Bitcoin (BTC) Bulls Eye New All-Time Highs as Pre-Halving Sideways Trading Action Nears

Cryptocurrency markets are trading higher, with long liquidations spiking to the highest level in over a week.

Cryptocurrency markets are trading higher on Monday morning, following a weekend of gains.

Long liquidations spiked to the highest level in over a week, according to data from Coinglass. This indicates that traders who were betting on rising prices are being liquidated as the بازار رمزارزها pulls back.

As of Monday morning, Bitcoin (CRYPTO: BTC) rose 0.8% to $63,643. Ethereum (CRYPTO: ETH) was up 0.4% to $4,706. Dogecoin (CRYPTO: DOGE) gained 1.2% to $0.28.

Top GainersThe biggest gainer among the top 100 رمزارزها by market capitalization was Arweave (CRYPTO: AR), which rose 11% over 24 hours.

Theсками‌ترین رمزارزها in the top 100 was Bitcoin Gold (CRYPTO: BTG), which slipped 4% over 24 hours.

Trader Notes: Crypto technical chart analyst Ali Martinez predicts Bitcoin to hold above $62,500 to maintain a bullish position. If it breaks $66,250, it will target new all-time highs.

Crypto investor and author Quinten Francois noted that Bitcoin is currently 87 days into halving. In 2016 and 2020, sideways price action took 182 days and 161 days respectively. He concluded, "If history repeats September/October will be explosive."

Crypto trader Blockchainedbb sees Bitcoin at daily resistance and still trading up and down. He foresees Bitcoin flipping only when it breaks through Range POC. He noted that Bitcoin is still making lower highs and lower lows with no change in structure.

Another crypto trader sees Bitcoin in the process of locally topping. He is looking for a $62,300 as a first downside target.

What’s Next: The influence of Bitcoin as an institutional asset class will be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

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