Bitcoin decides the fate of $ 60,000 as the weekly deal keeps BTC traders in suspense

Bitcoin (BTC) conducts an important weekly support test on October 23 after impulsive sellers moved large amounts of BTC to the major exchange, Binance.

BTC drops by $ 60,000

BTC / USD worries traders on Saturday, data from Cointelegraph Markets Pro and TradingView show, deciding the fate of the USD 60,000 support level.

This level emerged as the first key area for overnight buyers after the old all-time high of $ 64,900 failed to stimulate the market.

While analysts remain optimistic for longer periods of time, the downtrend near the current weekly candle makes an interesting point.

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For Cointelegraph employee Michaël van de Poppe, however Is called really “good” and maintain his prediction of a top macro price of up to $ 300,000.

A popular theory elsewhere circular around a structured relief of overworked traders, these drove the financing rates during their course to a classic, unsustainable level to an all-time high of 67,100 USD.

The first US Bitcoin ETF also remains an important topic of discussion, as the popular Twitter account BitBit notes.

https://twitter.com/BitBitCrypto/status/1451766618439233541?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

Binance reserves rise higher

While overall foreign exchange balances continue to trend lower, Binance has seen a significant increase in its reserves over the past few days.

Connected: 10/22 Price analysis: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

According to the Bybt statistics source, the amount rose by more than 50,000 BTC to just under 400,000 BTC on Friday.

Exchange reserve sticks usually indicate the desire to sell BTC on short notice or to have it available for sale.

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