{"id":561680,"date":"2023-11-21T09:20:54","date_gmt":"2023-11-21T09:20:54","guid":{"rendered":"https:\/\/ktsl888.com\/?p=561680"},"modified":"2023-11-21T09:21:03","modified_gmt":"2023-11-21T09:21:03","slug":"bitcoin-about-to-smash-the-38000-barrier","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-about-to-smash-the-38000-barrier\/","title":{"rendered":"Bitcoin About To Smash The $38,000 Barrier \u2013 Decoding the Next Moves"},"content":{"rendered":"

Bitcoin (BTC) price reclaimed $37,000 on Monday as the crypto market started the week strongly and with investors regaining confidence in the market. On-chain analysis identifies the key reasons that could propel BTC prices higher this week.<\/p>\n

Bitcoin was up 1.77% and was halfway to the vaunted $38,000<\/a> level at the time of writing, with its trading volume soaring 21% to a little over $14 billion. The recent gains in the crypto\u2019s price have also helped it to erase some of its recent losses, as evidenced by a surge of around 0.55% in its price over the last seven days.<\/p>\n

Anticipation Of Bitcoin ETF Nod<\/strong><\/h2>\n

This increase is a reflection of the market’s rising hope for the US government to approve a spot Bitcoin exchange-traded fund.<\/a> But the SEC is still on the fence, putting off judgments on many Bitcoin ETF proposals until 2024.<\/p>\n

Bitcoin (BTC) continues to generate significant discussion on social media, despite the SEC failing to meet the designated eight-day timeframe for approving spot Bitcoin ETFs.<\/p>\n

\"\"Source: FXStreet<\/pre>\n
However, a recent explanation for the delays has emerged, suggesting that the financial regulator has shown a preference for cash-based creations of ETFs rather than cryptocurrency-based ones. It is also believed that the agency is actively communicating with exchanges over this matter.<\/p>\n
Bitcoin Gets Price Lift From Milei Win<\/strong><\/h2>\n
Bitcoin’s latest price ascent<\/a> was in part driven by the election of Javier Milei, a politician who supports the adoption of bitcoin,<\/a> as the President of Argentina.<\/p>\n
Nevertheless, several traders caution about a potential market response subsequent to the disclosure of Federal Reserve meeting minutes on Tuesday, anticipating a period of reduced market liquidity towards the conclusion of the current business week.<\/p>\n
Related Reading: Sam Altman\u2019s Worldcoin Token Makes Headlines With 24% Surge Amid OpenAI Drama<\/a><\/div>\n
Anticipations are high for a forthcoming week of notable activity within the cryptocurrency sphere, as discerned by market participants who foresee a series of events and announcements capable of influencing market trajectories.<\/p>\n
<\/p>\n
BTCUSD trading at $37,424 today. Chart: TradingView.com<\/a><\/pre>\n
Eminent eToro markets analyst, Simon Peters, underscored the imminent release of the Fed’s latest meeting notes, slated for tomorrow. Peters articulated the consequential nature of these minutes, portraying them as a conduit for acquiring profound insights into the prevailing perspectives of the central bank.<\/p>\n
Against the backdrop of a decelerating inflationary trajectory, investors are particularly attuned to discerning further substantiation affirming the prospect that the present juncture may signify the culmination of peak interest rates.<\/p>\n
\"\"<\/p>\n
BTC seven-day price action: Source: Coingecko<\/a><\/pre>\n
What Lies Ahead For Bitcoin<\/strong><\/h3>\n
This forthcoming week beckons vigilant attention as participants await the nuanced signals that may resonate throughout the broader landscape of the market.<\/p>\n
Meanwhile, based on a deeper look at the daily chart, it is evident that there is currently a bullish sentiment surrounding the price of Bitcoin as it approaches a critical resistance level. If the closing bar lines up close to that threshold, the impending test of this resistance level points to a possible breakout situation.<\/p>\n
Related Reading: Bitcoin Fees Soar Above Ethereum\u2019s As Investors Flock To Ordinals-Backed Assets<\/a><\/div>\n
The excitement that is building up in this situation might be the impetus for a significant spike that takes the top altcoin’s price up to $39,000.<\/p>\n
There has been a lot of excitement among market watchers due to this suggestive bullish momentum, which is the approaching challenge to the resistance level.<\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Freepik<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin (BTC) price reclaimed $37,000 on Monday as the crypto market started the week strongly and with investors regaining confidence in the market. On-chain analysis identifies the key reasons that could propel BTC prices higher this week. Bitcoin was up 1.77% and was halfway to the vaunted $38,000 level at the time of writing, with its trading volume soaring 21% to a little over $14 billion. The recent gains in the crypto\u2019s price have also helped it to erase some of its recent losses, as evidenced by a surge of around 0.55% in its price over the last seven days. Anticipation Of Bitcoin ETF Nod This increase is a reflection of the market’s rising hope for the US government to approve a spot Bitcoin exchange-traded fund. But the SEC is still on the fence, putting off judgments on many Bitcoin ETF proposals until 2024. Bitcoin (BTC) continues to generate significant discussion on social media, despite the SEC failing to meet the designated eight-day timeframe for approving spot Bitcoin ETFs. Source: FXStreet However, a recent explanation for the delays has emerged, suggesting that the financial regulator has shown a preference for cash-based creations of ETFs rather than cryptocurrency-based ones. It is also believed that the agency is actively communicating with exchanges over this matter. Bitcoin Gets Price Lift From Milei Win Bitcoin’s latest price ascent was in part driven by the election of Javier Milei, a politician who supports the adoption of bitcoin, as the President of Argentina. Nevertheless, several traders caution about a potential market response subsequent to the disclosure of Federal Reserve meeting minutes on Tuesday, anticipating a period of reduced market liquidity towards the conclusion of the current business week. Related Reading: Sam Altman\u2019s Worldcoin Token Makes Headlines With 24% Surge Amid OpenAI Drama Anticipations are high for a forthcoming week of notable activity within the cryptocurrency sphere, as discerned by market participants who foresee a series of events and announcements capable of influencing market trajectories. BTCUSD trading at $37,424 today. Chart: TradingView.com Eminent eToro markets analyst, Simon Peters, underscored the imminent release of the Fed’s latest meeting notes, slated for tomorrow. Peters articulated the consequential nature of these minutes, portraying them as a conduit for acquiring profound insights into the prevailing perspectives of the central bank. Against the backdrop of a decelerating inflationary trajectory, investors are particularly attuned to discerning further substantiation affirming the prospect that the present juncture may signify the culmination of peak interest rates. BTC seven-day price action: Source: Coingecko What Lies Ahead For Bitcoin This forthcoming week beckons vigilant attention as participants await the nuanced signals that may resonate throughout the broader landscape of the market. Meanwhile, based on a deeper look at the daily chart, it is evident that there is currently a bullish sentiment surrounding the price of Bitcoin as it approaches a critical resistance level. If the closing bar lines up close to that threshold, the impending test of this resistance level points to a possible breakout situation. Related Reading: Bitcoin Fees Soar Above Ethereum\u2019s As Investors Flock To Ordinals-Backed Assets The excitement that is building up in this situation might be the impetus for a significant spike that takes the top altcoin’s price up to $39,000. There has been a lot of excitement among market watchers due to this suggestive bullish momentum, which is the approaching challenge to the resistance level. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Freepik<\/p>\n","protected":false},"author":557,"featured_media":561707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,6664,1944],"class_list":["post-561680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto","tag-etf"],"acf":[],"yoast_head":"\nBitcoin About To Smash The $38,000 Barrier<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) price reclaimed $37,000 on Monday as the crypto market started the week strongly and with investors regaining confidence in the market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-about-to-smash-the-38000-barrier\/\" 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin About To Smash The $38,000 Barrier \u2013 Decoding the Next Moves","url":"http:\/\/ktsl888.com\/news\/bitcoin-about-to-smash-the-38000-barrier\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-about-to-smash-the-38000-barrier\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/a-127.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/a-127.png?fit=972%2C641"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto","etf"],"dateCreated":"2023-11-21T09:20:54Z","datePublished":"2023-11-21T09:20:54Z","dateModified":"2023-11-21T09:21:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin About To Smash The $38,000 Barrier \\u2013 Decoding the Next Moves\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-about-to-smash-the-38000-barrier\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-about-to-smash-the-38000-barrier\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-127.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-127.png?fit=972%2C641\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto\",\"etf\"],\"dateCreated\":\"2023-11-21T09:20:54Z\",\"datePublished\":\"2023-11-21T09:20:54Z\",\"dateModified\":\"2023-11-21T09:21:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/a-127.png?fit=972%2C641","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/561680"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=561680"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/561680\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/561707"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=561680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=561680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=561680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}