October 12, trading in bitcoin closed lower

On Tuesday, October 12, Bitcoin trading closed lower. The BTC / USD pair fell 2.57% to $ 55,996. After an unsuccessful attempt to break through to the level of 58 thousand, the price fell by 6.5% to 53,879. Protective stops on long positions could have been triggered below $ 55,300. Volume increased at 20:05 (Binance). There were few large futures sales (deals over 75 BTC in one deal). The price quickly rebounded to $ 56,548. Over the past 24 hours, long positions in the amount of $ 86.8 million (slightly) have been liquidated.

It is not known for sure, but the fall in the BTC rate could have caused news from Binance. Starting December 31, the cryptocurrency exchange will remove the Chinese yuan from the list of over-the-counter (OTC) markets and close access to OTC trading for users from China.

The rebound was supported by news from the US. The US Senate voted to temporarily increase the US government debt limit by $ 480 billion, which had a positive effect on all risky assets. On Tuesday, the dollar index updated a maximum of 94.57 points, today it is trading in the red.

On Wednesday, October 13, the BTCUSD pair returned to the level of 54270. Sellers show activity below 55 thousand and calm down when rising above 56 thousand. Traders are focusing on two important events - the report on inflation in the US and the minutes of the US Federal Reserve meeting. They are important to the Fed and the dollar.

The overall sentiment for Bitcoin is still positive. No break of the Up trend is observed. Let's see how the dollar reacts to the US inflation report, and then we can figure out whether the price will return back to the level of 57.8 thousand or not.

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