Article source: Official account Pepe Stud

Bitcoin reached a high of $68,344 at 6:00 a.m. this morning (28). Kraken analysts said that as long as Bitcoin remains above $66,500, it is still on an upward trend, and is expected to challenge the all-time high of $73,679 set in March next.

Bitcoin (BTC) continued to fluctuate between $66,600 and $67,400 over the weekend until a strong recent wave of gains began at close to 8 o'clock last night, and reached a high of $68,344 at around 6 a.m. today (28).

There was a slight decline of $67,780 before the paper was finalized. The increase narrowed to 1.25% in the past 24 hours. It remains to be seen if it is expected to challenge the previous high of $69,500 set on the 21st of last week.

Ethereum once surpassed $2,500

Ethereum's trend is similar to Bitcoin. It reached a high of $2,528 early in the morning and is now at $2,497, up 1.25% in the past 24 hours.

The top ten coins have fully recovered

According to CoinmarkEcap data, most of the other top ten coins have also risen in the past 24 hours. The strongest ones are SOL and DOGE, which rose 2.47% and 3.55% respectively.

The entire network closed out 68 million dollars in a single day

According to Coinglass data, in the past 24 hours, the total amount of cryptocurrency liquidated positions on the entire network was about 68.79 million dollars, and more than 0.035 million people were liquidated. However, overall, the volume of liquidated positions during the weekend was not too large, so it is expected that the volatility may increase further.

Is Bitcoin expected to break through a new high?

Kraken analysts released a report analysis on the 26th. As long as Bitcoin remains above $66,500, it is still an upward trend. Bitcoin is above all major moving averages, indicating that bulls continue to have the upper hand. As long as it continues to rise, the next critical phase will be the all-time high of $73,679 set in March:

A successful break through this level could open the door for new price discoveries and further upward movement.

This Week's Market Highlights

10/29 (Tue)

• US: October Council Consumer Confidence, previous value: 98.7

• US: JOLTS job vacancies in September, previous value: 8.040M

10/30 (Wed)

• Germany: Third quarter gross domestic product GDP (quarter-on-quarter), previous value -0.1%

• Switzerland: Central Bank Press Conference

• UK: Fall Budget

• US: Change in non-farm payrolls in October, previous value: 143K

• US: Third quarter gross domestic product GDP (quarter-on-quarter), previous value 3.0%

• Germany: Consumer Price Index CPI (month-on-month) for October, previous value 0.0%

• US: Crude oil inventory, previous value 5.474M

10/31 (Thu)

• China: Manufacturing PMI for October, previous value was 49.8

• Japan: Interest rate decision, previous value 0.25%

• Hong Kong: Third quarter gross domestic product GDP (quarter-on-quarter), previous value 0.4%

• Hong Kong: Third quarter GDP GDP (YoY), previous value: 3.3%

• Eurozone: Consumer Price Index CPI (YoY) in October, previous value 1.7%

• US: September Core PCE Price Index (YoY), previous value 2.7%

• US: September Core PCE Price Index (month-on-month), previous value 0.1%

• US: Number of initial jobless claims

11/1 (Friday)

• US: Average hourly wage in October (month-on-month), previous value 0.4%

• US: OctoberNumber of people employed in non-agricultural industries, previous value 254K

• US: October unemployment rate, previous value: 4.1%

• US: ISM manufacturing PMI for October, previous value was 47.2

• US: Manufacturing PMI for October, previous value was 47.8