BTC (Bitcoin) rose 3.10% in the last 24 hours.

Gate News Bot news, on October 27, according to CoinMarketCap data, as of the time of writing, BTC (Bitcoin) is currently priced at $115,200, with a rise of 3.10% in the last 24 hours, reaching a high of $115,300 and a low of $106,800, with a 24-hour volume of $43.465 billion. The current market capitalization is about $2.30 trillion, an increase of $69.094 billion compared to yesterday.

Bitcoin is an innovative payment network and a new kind of currency. Bitcoin operates using peer-to-peer technology, without the need for a central authority or bank; transaction management and the issuance of bitcoins are collectively handled by the network. Bitcoin is open source; its design is public, and no one owns or controls Bitcoin, allowing anyone to participate. Through its many unique properties, Bitcoin enables exciting uses that were not possible with any previous payment system.

Important recent news about BTC:

1️⃣ Large whales continue to accumulate, market confidence rises A well-known Bitcoin whale address has recently been actively accumulating, purchasing 3,195 BTC worth approximately $356.6 million in just 3 hours. Meanwhile, another investor opened high-leverage long positions in BTC worth over $29 million in the past 12 hours. This indicates that large funds maintain an optimistic outlook on Bitcoin's short-term trend, which may further boost market sentiment.

2️⃣ Institutional demand continues to rise, providing support for prices The institutional demand for Bitcoin exchange-traded products (ETPs) and corporate treasuries has exceeded the annual supply reduction caused by the most recent halving by more than seven times. This sustained growth in institutional demand provides strong support for the price of Bitcoin, helping to maintain the price above the $100,000 level.

3️⃣ Market sell-off pressure eases, short-term trend stabilizes The blockchain analysis company Glassnode pointed out that since hitting a high on October 10, the cumulative trading volume increase (CVD) of Bitcoin's spot and futures has flattened for the first time, indicating that the recent strong market selling pressure has subsided. This change in the indicator suggests that the short-term market may enter a relatively stable phase.

From a technical perspective, Bitcoin has continuously broken through several key integer levels, demonstrating strong upward momentum. However, the market still needs to be wary of potential pullback risks, especially when approaching historical high areas where significant resistance may be encountered.

This message does not constitute investment advice; investors should be aware of market volatility risks.