Bitcoin Price Struggles at $80K, but MEXC CEO Sees Bullish Signals

Bitcoin’s price reclaimed the $80,000 level twice on Monday, hovering near $80,100 amid rangebound trading between $79,500 and $80,500. Leveraged long liquidations were approximately $36 million, or 65% of all bitcoin liquidations. Bitcoin’s price reclaimed $80,000 twice on Monday as the cryptocurrency appeared poised to continue a downward trend that began at the start of the month. The decline has largely extinguished hopes of an “Uptober” rally , which many analysts predicted would deliver the cryptocurrency’s largest monthly gains of the year. According to market data, before reclaiming $80,000, bitcoin had progressively fallen from above $80,800 to $79,260, its lowest point since Sept. 18. Shortly after midnight, however, the cryptocurrency rebounded to nearly $80,500 about six hours later.

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