Uptober: Indicators suggest the 2024 crypto bull market is back
The long-awaited Uptober could have finally started as Bitcoin (BTC) and the cryptocurrency market break out of a seven-month downtrend. Indeed, 2024’s crypto bull market found a local top in March, downtrending since then until this point, indicating a reversal. Among the signals, there is an increased activity in meme coin trading with traders registering impressive gains, as Finbold reported. Also, benefiting from a current growing optimism, early investors have started to realize profit through strategic sales. These are common indicators of a first impulse wave after a period of accumulation that usually precedes a bull market. Moreover, liquidity is re-entering the market, giving space to impressive transactions like a recent $1.4 million BAYC NFT purchase. Picks for you Tesla moves $760 million in Bitcoin; Here's what you ...