Bitcoin

<p style="text-align: justify">The king of <strong>cryptocurrencies</strong> has retreated to the $36,000 region after testing the $38,000 resistance. The daily low is at $36,080. This high volatility is a result of significant positions in futures trading. While investors believe in the rally with ETFs and other positive news, they see it as an opportunity for short-term profit-taking.</p>
<h2 style="text-align: justify" id="bitcoin-btc">Bitcoin (BTC)</h2>
<p style="text-align: justify">The &lt;a href="https://en.coin-turk.com/crypto-<a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a>-poised-for-significant-upswing-predicts-macro-guru/”&gt;BTC rally that started at this time yesterday has now returned to where it began. This is positive for investors looking to make gains from short-term fluctuations. However, those targeting $40,000 and altcoin investors continue to wait anxiously. Let’s first take a look at miner reserves.</p>
<p style="text-align: justify"><img decoding="async" class="wp-image-277326 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Madenci-Rezerv.png" alt="" width="1044" height="696"></p>
<p style="text-align: justify">On November 9, reserves stood at 1.95 million, dropping to 1.92 million on November 11. This indicates the presence of miners seeking profit-taking opportunities during the uptrend. Outflows from miner wallets are also evident.</p>
<p style="text-align: justify"><img decoding="async" class="wp-image-277325 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Madenci-Cikis.png" alt="" width="920" height="613"></p>
<h2 style="text-align: justify" id="exchange-data">Exchange Data</h2>
<p style="text-align: justify">In the past 3 months, as the price of <strong>BTC</strong> has increased, we can see fluctuations in exchange inflows. Especially in the last 7-day period, there has been an increase of nearly 12% in inflows. However, in the longer term, outflows dominate.</p>
<p style="text-align: justify"><img decoding="async" class="wp-image-277324 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Girisleri.png" alt="" width="1247" height="409"></p>
<p style="text-align: justify">Looking at net inflows, there has been a net inflow of 4,300 BTC to exchanges in the past 30 days. This confirms the presence of investors looking to sell for profit. In Google search trends, there has been a rapid decline as of November 9. This indicates that investor disinterest could bring lower levels. Furthermore, the lack of increasing search queries alongside the price tells us that new investors are not diving into the market eagerly.</p>
<p style="text-align: justify"><img decoding="async" class="wp-image-277323 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Google.png" alt="" width="1145" height="413"></p>
<p style="text-align: justify">The age metric of BTC holding addresses shows a 10% decrease in addresses younger than 1 day. There is also a noticeable decrease in investors holding BTC for 3-12 months. This confirms that investors making short and medium-term profits are selling.</p>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-277322 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Yasi.png" alt="" width="1200" height="1200"></p>
<h2 style="text-align: justify" id="btc-price-analysis">BTC Price Analysis</h2>
<p style="text-align: justify">All of these data explain the profit-taking at resistance levels. Especially the relaxation in search trends and the failure to break the $38,000 region could bring a new correction towards $34,400. Closures below that level could lead to further selling down to $32,000. If the $32,000 level is also lost, the expected medium-term bullish outlook could turn into a sideways trend, as many experts have expressed.</p>
<p style="text-align: justify"><img decoding="async" class="wp-image-277321 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTCUSDT_2023-11-16_22-13-36.png" alt="" width="1221" height="570"></p>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> The information in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research when making transactions.
</div> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-falls-to-36000-after-testing-38000-resistance-heres-what-to-expect-next/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-falls-to-36000-after-testing-38000-resistance-heres-what-to-expect-next/</a>

Bitcoin Falls to $36,000 After Testing $38,000 Resistance: Here’s What to Expect Next

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