October 12th Cryptocurrency Market Update [Bitcoin Decline] Bitcoin broke through the five-month high of $57,000 in the last 24 hours, moving toward the next resistance line of $60,000. Investor sentiment has improved significantly with the recent rally. According to Alternative's 'Crypto Fear and Greed Index', the index recorded 71, indicating a “greed" stage. Last week, the index was in the "neutral” stage (54) and last month, it was in a "fear" stage (31). The index closer to O indicates extreme fear in the market, and closer to 100 indicates extreme optimism. On-chain data is also positive. Crypto data analysis company Santiment tweeted, “Addresses with 100-1,000 BTC accumulated 85.7k BTC beginning at the late Sept. bottom. These whales hold 21.3% of supply now, their largest of all time. In addition, crypto mining company Luxor Technology said in a recent report that the Bitcoin hash rate is expected to hit an all-time high and that China's FU...
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