Bitwise has increased its long-term Bitcoin price target to $1.6 million by 2036, citing stronger confidence in BTC as a global store of value. Despite this bullish outlook, Bitcoin currently trades near its 50-day moving average with momentum weakening, posing a short-term challenge for buyers. The critical support level to watch is the 200-day moving average around $76,000, which must hold to maintain the long-term uptrend. Traders face a pivotal moment where a break below this support could lead to a deeper pullback, while a move above the 50-day average could reignite the rally.
Bitcoin trades at Rp1.486.000.000 on Pluang as of Oct 29, 2026 22:43 WIB, showing a positive 1.17% change in the last day. The platform sees a strong buy interest with 74% of orders favoring purchases and a typical hold time of 112 days, indicating steady investor confidence. This trading activity coincides with the article's note on Bitcoin holding its 50-day moving average, suggesting cautious optimism among traders.
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