Rally

United

Bitcoin ETF

Bitcoin

Captain

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/bitcoin-price-surges-to-35k-40-rally-expected-in-november/">Bitcoin Price Surges to $35K; 40% Rally Expected in November</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the past 24 hours, Bitcoin (BTC) has defied bearish expectations, surging past the resistance zone between $31,000 and $32,000 to reach as high as $35,000. This unexpected rally in October, historically dubbed “Uptober” in pre-halving years, has once again caught the attention of the crypto world. Furthermore, this surge led to the liquidation of nearly $310 million worth of Bitcoin short trades.</p> 
<h2 class="wp-block-heading" id="strong-what-triggered-the-bitcoin-price-surge-strong"><strong>What Triggered the Bitcoin Price Surge</strong></h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The Bitcoin ETF listing on Nasdaq is only evidence of BlackRock's confidence that its ETF will be approved by the SEC.<br><br>It's like cleaning up your bedroom and making sure your roomie is out of the apartment all night. It MIGHT not happen this date, but you got a good feeling. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/263a.png" alt="☺" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/HG8LiX9R9G">https://t.co/HG8LiX9R9G</a></p>— Jeremy Hogan (@attorneyjeremy1) <a href="https://twitter.com/attorneyjeremy1/status/1716595878083829975?ref_src=twsrc%5Etfw">October 23, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The Bitcoin price surge unfolded during Tuesday’s early Japanese market hours and late New York trading session on Monday. Speculation around the potential approval of spot BTC Exchange-Traded Funds (ETFs) by the United States Securities and Exchange Commission (SEC) played a pivotal role in driving market sentiment. Notably, there are indicators from the Depository Trust and Clearing Corporation (DTCC) website that suggest Blackrock is preparing to launch its iShares Bitcoin Trust.</p> 
<p>The early approval of spot Bitcoin ETFs in the United States could have a significant impact on the supply and demand dynamics of Bitcoin, especially with the halving event approximately 180 days away. The crypto community closely watches this development as it could lead to a seismic shift in the market.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-action-and-predictions">Bitcoin <strong>Price Action and Predictions</strong></h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has confirmed Channel breakout on the weekly timeframe &amp; Bulls have already broken the 31K S/R level too.<br><br>If the weekly candle closes above the 31K S/R level, we might be able to witness a 30-40% Bullish Rally in November.<br><br>(Wait for Weekly close)<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://t.co/qkM6H25kka">pic.twitter.com/qkM6H25kka</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1716635177534054688?ref_src=twsrc%5Etfw">October 24, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Bitcoin’s price has soared more than 100 percent year-to-date (YTD), prompting market experts to declare that the crypto winter is over and spring is on the horizon. According to renowned crypto analyst Captain Faibik, if Bitcoin bulls can maintain their momentum and the weekly candle closes above $31,000, traders may anticipate a 30-40 percent increase in the coming weeks.</p> 
<p>As Bitcoin continues to surprise the market with its resilience and upward momentum, investors and enthusiasts eagerly await the SEC’s decision on spot BTC ETFs and keeping a close eye on Blackrock’s potential entry into the Bitcoin market through its iShares Bitcoin Trust.</p>

Bitcoin Price Surges to $35K; 40% Rally Expected in November

Table of Contents

CoinPedia News

Other articles published on Oct 24, 2023

Ordswap Urge Users to Rescue Keys Amid Phishing Attack on Website

Why is the SEC coming after BlackRock NOW?

dYdX Chain v1.0 Officially Released

Nvidia’s Humanitarian Initiatives Amidst Escalating Conflict

Blockchain-based Fundraising to Traditional VC Rounds

Report: Altcoins Mirror 2019/2020, Set Stage for Potential Gains

Join our free newsletter for daily crypto updates!