Bitcoin price: Green coverage
Early this morning (October 27), Bitcoin - the world's largest cryptocurrency by market value - continued to increase by 0.74% to reach 112,396.07 USD.
This new price contributes to bringing market capitalization to 2,241 billion USD, an increase of 43 billion USD. On the other hand, trading volume in the 24-hour reversal period decreased sharply, currently at 24.34 billion USD, down 29.52 billion USD.
Assessment and forecast
According to data from Arkham Intelligence, the trader at "0xc2a" opened long-term positions just before the market recovered strongly last week. After that, Bitcoin increased by 4% and Ethereum increased by 2%.
The trader's strategic accuracy comes right after a period of intense volatility, when more than 20 billion USD of leverage positions were wiped out on October 10.
As investors race to reduce risks, Bitcoin fell to a 3-month low of below $105,000 before reopening. During this period, 0xc2a quietly gathered to buy, bet on a recovery and that prediction quickly became a reality.
According to data from Lookonchain, this trader continuously rebalances its portfolio, flexibly adjusting according to price fluctuations and market sentiment.
Since its inception, this account has maintained a 100% winning rate, never recording losses - an achievement that has attracted strong attention in the community of analysts and traders on the X platform ( social media).
As of now, 0xc2a is holding 1,483 BTC (worth about 165.5 million USD) and 33,270 ETH (equivalent to 131.3 million USD) in active dragon positions, demonstrating strong confidence in the market's recovery trend.
The success of this trader shows that the behavior of the "wallahs" can have a significant impact on the general market sentiment. With a huge trading scale, these individuals can change the direction of the market with just a few steps. Small investors often closely monitor their behavior, considering it a signal of a reversal or confirmation of the trend.
However, the market in October this year went against traditional expectations for "Uptober" - a month that is considered the period of price increase of cryptocurrencies. Geopolitical instability, large liquidations, and weakness in risk appetite have made investors cautious.
In Vietnam, Bitcoin and other cryptocurrencies have not been recognized as a legal payment method and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
