Bitcoin is consolidating around the $109,000 level as traders predict an upward momentum over the upcoming weeks.

Notable Statistics:

• Coinglass data shows 140,035 traders were liquidated in the past 24 hours for $418.82 million.      
• In the past 24 hours, top gainers include Zcash, Bittensor and Aster.

Notable Developments:

• Trader Shorts $1 Million In Ethereum: ‘The Rally May Never Materialize, It’s a Bear Market’
• Solana, Bitcoin Are The ‘Two Ways To Win’ In Crypto, Bitwise’s Matt Hougan Says
• Kalshi’s Trojan Horse: How The Prediction Market Leader Is Inching Further Into DeFi
• Coinbase CEO Brian Armstrong Calls Payments The ‘Next Big Use Case’ For Crypto — Sees Potential For Stablecoins In This Space
• Coinbase Jumps On Big Q3 Beat As Analysts Back ‘Everything Exchange’ Push

Trader Notes: Stockmoney Lizards observed strong liquidity between the $100,000 and $107,000 range, marking it as a key demand zone with heavy buy and sell activity.

ShardiB2 cautioned that Bitcoin's weekly chart "does not look that bad" when zoomed out.

Javon Marks noted that Bitcoin remains in a bullish trend, with the potential for a 13%+ move that could push prices above $126,219 and set new all-time highs, emphasizing that BTC is currently bullish.

CryptoBullet pointed out a massive bearish divergence on the weekly RSI, calling it a "true horror sight" for traders.

Read Next: 

• Bitcoin Back To $110,000: Are The Bear Market Calls Premature?

Image: Shutterstock