Bitcoin rebounds from support at $110,000, signaling a possible reversal of its upward trend

Bitcoin (BTC), which had been falling recently, has rebounded by breaking through the support line of $110,000. Although the wait-and-see mood continues, there are analysts who believe that it may be on the rise.
As of 9:15 a.m. on the 30th, the price of Bitcoin in South Korea based on Bithumb was 162,965,000 won (approximately 17.19 million yen), up 1.56% from the same time the previous day.
At the same time, the overseas Bitcoin price based on CoinMarketCap rose 2% from the same time the previous day to $114,362 (approximately 16.93 million yen).
Despite the rebound, the market is still in a wait-and-see mood. Blockchain data analysis company Glassnode said, "Current liquidity (trading volume) will be maintained.
"The market is being held steady, but a wait-and-see attitude is becoming stronger," he said, predicting that "without new demand, there will be no major movement."
Nevertheless, the proportion of "long positions" in the futures market is on the rise.
This is because Bitcoin has tended to rise in the fourth quarter so far.
This indicates that more investors are betting on Bitcoin. QCP Capital said on the 29th of last month that "open interest and funding rates for Bitcoin perpetual futures are rising again."
"Investors are gaining confidence that bull markets have historically emerged in the fourth quarter."