Bitcoin Surges 15% to $35K on ETF Hopes But Pullback Risk Looms as Dollar Rebounds
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Bitcoin price consolidated near $34K after surging 15% daily to $35.2K on optimism about a potential Bitcoin ETF approval in the U.S.
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Some expect a price pullback soon due to positive funding rates and thin liquidity above $32K. Traders warn late longs may get wiped out.
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Bitcoin liquidations totaled $161M on Oct 23 and $48M on Oct 24 as price surged.
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The U.S. Dollar index rebounded, up 0.5% from its intraday low. Bitcoin still shows mixed reactions to DXY moves.
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Analysts say $104.70 is key support for DXY ahead of upcoming Fed decision on interest rates. Bulls need to defend this level.