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Bitcoin suddenly passes $61K as a $1.7K hourly candle fuels BTC bulls


28 Oct 2021

#Bitcoin

Bitcoin pulls a fresh surprise out of the hat just as opinions were beginning to flip bearish below $60,000. Bitcoin (BTC) delivered another classic surge during Oct. 28 as bulls enjoyed a $1,700 hourly candle. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD breaking back above $60,000 after tracking sideways since early Wednesday.

The move meant that the pair cast firm doubt on recent bearish behavior, all but invalidating a head-and-shoulders pattern in line with expectations. As Cointelegraph reported, analysts were already unfazed by Bitcoin’s retracement, with some even increasing their price targets over longer timeframes.

At the time of writing, BTC/USD circled $61,000, having reached local highs of $61,250 on Bitstamp. Funding rates remained low, pointing to the successful “flushing” of leverage in recent days.

Dogs dominate altcoins

Altcoins moved upward in step with Bitcoin, with the top 10 cryptocurrencies by market capitalization seeing gains of several percentage points. The market was still dominated by Shiba Inu (SHIB), however, with the altcoin advancing 43% on the day and 150% in a week. The spotlight subsequently switched to Dogecoin (DOGE), which put in a copycat move as SHIB/USD came off record highs. 


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 89.2% 8 $36 947.77 -1.06% -1.21% $722 517 987 780 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76% 49 $2 006.98 -1.94% -0.25% $241 327 503 957 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000106 -0.01% -0.03% $88 908 308 061 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 81.6% 28 $225.88 -1.16% -13.20% $34 266 144 454 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 76.8% 42 $0.599360 -0.94% -1.73% $32 255 761 880 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94% 1 $0.999945 0% 0.02% $24 452 239 909 USDC 7 days price change
7 Solana (SOL) SOL Solana predictions 56.8% 87 $54.93 -1.57% -2.13% $23 259 800 805 SOL 7 days price change
8 Cardano (ADA) ADA Cardano predictions 70% 62 $0.370958 -3.20% -3.22% $13 094 166 560 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 75.2% 48 $0.077136 -4.06% 0.31% $10 954 291 481 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 TRON (TRX) TRX TRON predictions 81.2% 27 $0.101641 -4.10% 0.18% $9 001 259 365 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 82% 30 $0.101320 -4.87% 0.51% $8 972 888 283 WTRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 80% 31 $2.43 2.70% 4.28% $8 334 169 287 TON 7 days price change
14 Chainlink (LINK) LINK Chainlink predictions 63.6% 69 $13.97 -3.35% -1.89% $7 781 668 263 LINK 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 57.6% 86 $19.69 -3.93% -5.98% $7 187 470 859 AVAX 7 days price change

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