Bitcoin

<p style="text-align: justify">The agenda is quite busy and <a href="https://coin-turk.com/sicak-gelisme-celsius-iflas-bayragini-cekti-musterilere-kotu-haber" data-wpel-link="internal">crypto currency</a> investors are entering a critical week. <a href="https://en.coin-turk.com/bitcoin-wallet-from-satoshi-era-turning-5000-into-38-7-million-springs-into-action-after-11-5-years/" data-wpel-link="internal">BTC</a> is below $28,000. This week is likely to bring many important developments, and the Israeli-Palestinian conflict that started days ago can also affect the markets. So, what’s next for <strong>BTC</strong> and <strong>altcoins</strong>?</p> 
<h2 style="text-align: justify" id="bitcoin-btc-analysis">Bitcoin (BTC) Analysis</h2> 
<p style="text-align: justify">BTC bulls cannot close daily above $28,000 and sellers have maintained their strong position since October 2nd. Today, the price dropped below $27,500. Readings on the weekly chart indicate that the price has confirmed $25,300 as a reliable support level since September 11th.</p> 
<p style="text-align: justify">On the other hand, tomorrow is the last day for objections to the GBTC decision at the <a href="https://en.coin-turk.com/bitcoin-btc-falls-to-critical-levels-latest-update-on-the-cryptocurrency-market/" data-wpel-link="internal">SEC</a>. If no objections are received, this will indicate that the SEC will reconsider and approve the conversion of GBTC to an ETF. If the SEC cannot come up with a new excuse for rejecting <strong>spot BTC ETFs</strong>, it has two options ahead. It will either approve ETFs or cancel approvals for futures ETFs.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-264721 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/BTC-Grafik.png" alt="" width="1887" height="780"></p> 
<p style="text-align: justify">Looking at the recent approvals for futures <a href="https://coin-turk.com/analist-ethereum-fiyati-patlamaya-hazir" data-wpel-link="internal">ETH</a> ETFs, we see that the SEC will not withdraw its approvals. Therefore, it should either approve or create problems in more detailed issues such as custody services. However, the recent dialogue with ETH issuers shows a more constructive approach, indicating that approval could be granted in the next 6 months.</p> 
<h2 style="text-align: justify" id="what-s-next-for-cryptocurrencies">What’s Next for Cryptocurrencies?</h2> 
<p style="text-align: justify">The <strong>BTC price</strong> is currently trading in a horizontal range between $25,300 and $30,500. Weekly RSI is uncertain and close to the neutral zone. Readings on the daily chart for <a href="https://en.coin-turk.com/cryptocurrency-market-in-a-stir-unraveling-the-enigma-of-plummeting-trading-volumes/" data-wpel-link="internal">Bitcoin</a> price indicate a decline. This is due to ongoing closings below the resistance area. The bearish candlestick formed after the resistance test indicates that the recent movement was just a deviation.</p> 
<p style="text-align: justify">If BTC continues to fail, it could return to the $26,000 level and the declining resistance trend line. On the contrary, a daily close above $28,000 could lead to a recovery towards $30,500.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-264722 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/BTC-Kac-Dolar-Olacak.png" alt="" width="1707" height="827"></p> 
<p style="text-align: justify">Despite the increase in DXY and several issues, the price, which has held the $27,200 level, still gives hope. The upward movement in altcoins can reverse depending on the next price route of BTC. Considering the upcoming inflation data and the likely increase in oil prices due to geopolitical problems this week, we can say that the uncertainty is at its peak.</p> 
<div class="sorumluluk_reddi" style="text-align: justify">
 <strong>Disclaimer:</strong> The information contained in this article does not constitute investment advice. Investors should be aware of the high volatility and therefore risk associated with cryptocurrencies and should conduct their own research.
</div> Continue Reading: <a href="https://en.coin-turk.com/whats-next-for-btc-and-altcoins/" data-wpel-link="internal">https://en.coin-turk.com/whats-next-for-btc-and-altcoins/</a>

What’s Next for BTC and Altcoins?

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