Bitcoin stays range-bound as traders eye support near $64,500
Traders describe Bitcoin as range-bound after retracing most of August's rally, with some looking for long entries near $64,500 and others considering shorts.
Not yet known
- Whether Bitcoin breaks out of its current range or stays range-bound
- Whether Bitcoin will follow the 2023 pattern with a sharp rally
- Unverified: the claim that Binance influenced the market after a hack
What we know
A trader argues Bitcoin remains range-bound. Another analyst says the market has retraced most of the August pump, with the bottom of the distribution near 64,500 and a gap there as a first long target. One trader may try a short on a bounce, while another says Bitcoin needs a sharp rally to follow the 2023 fractal. One trader claims Binance influenced the market after a hack; this is unverified. Elsewhere, a high-leverage ZEC short opened at $925 would be liquidated if the price returns to $1,044.
Will Bitcoin dip to $55,000 by December 31, 2026?
Traders' bets on Polymarket, not a forecast by Global Eye 24. Polymarket · $8.0m traded · updated 20:51 UTC
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“Bottom end of that is 64500 odd”
View post →“Bitcoin is still range bound and that’s the only fact that matters.”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.