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What Has Driven Bitcoin to $66.5K in Bullish Market Pivot?

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Bitcoin prices reached $66,500 during late trading on Oct. 14, according to CoinGecko. It is the highest level since late September when it hit a similar price but was rejected at resistance.

If the decrease in inventory exceeds production, or mining issuance in this case, demand is increasing, and vice versa, he explained.that “Uptober” has finally arrived, and BTC is showing an overall gain for this month as it has done for nine of the previous eleven Octobers. Bitcoin market sentiment has turned overwhelmingly bullish, with the Fear and Greed Index jumping into “greed” with a reading of 65.

 

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