Bitcoin (BTC) Price Gains 13% to Hit $8500 in 10 Minutes

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Bitcoin price has defied all expectations of its bearish trend continuing this week after rising a giant 13% in about 10 minutes on October 25. BTC Bulls Take Control In a move which was the last thing many traders expected, the largest cryptocurrency shot up from $7400 to a high of over $8500 on Friday trading. At press time, Bitcoin 00 circled $8400, fully reversing its losses from earlier in the week which occurred over a similarly short timeframe. The striking gains appeared to catch market participants by surprise, with derivatives giant BitMEX liquidating $150 million of shorts within the hour. “Big squeeze ongoing,” analyst Skew Markets noted on Twitter uploading a chart of the activity. Big squeeze ongoing – $150mln of buy liquidations just went through BTC +13% last 24h pic.twitter.com/mRvkCpuh1y — skew (@skew_markets) October 25, 2019 Regular traders likewise expressed little beyond surprise. “Holy f*ck Bitcoin,” popular Twitter…

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