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Traders are betting that Bitcoin will rebound next week.
On October 12, according to Cointelegraph, the price of Bitcoin fluctuated around $112,000 at the weekly close on Sunday, with traders anticipating a rebound in the Bitcoin price. Data from Cointelegraph Markets Pro and TradingView shows that volatility has decreased following a $19 billion crypto liquidation event. Bitcoin failed to achieve a significant rebound, but market participants believe it may perform stronger next week. The trading information platform TheKingfisher pointed out that liquidity grabs may occur around $114,000, while traders hold large short positions on BTC. The weekend is a good time to capture BTC range liquidations. Despite the $19 billion liquidation in the crypto market, the bullish trend of Bitcoin remains intact.