Based

Bitcoin

On November 21, decisions taken by the US Department of Justice regarding cryptocurrency exchange <a href="https://en.coin-turk.com/high-ranking-binance-officials-resign-amid-regulatory-pressure/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> and its CEO Changpeng Zhao caused a short-term concern. The allegations that Binance would sell <a href="https://en.coin-turk.com/bitcoin-hash-rate-rises-while-mining-revenue-falls-btc-should-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> to pay its $4.3 billion fine caused a significant drop in the price of Bitcoin. However, with a 1.92% increase in the last 24 hours, Bitcoin seems to have left these concerns behind.
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-bitcoin-front">What’s Happening in the Bitcoin Front?</h2>
Data from TradingView shows that the crypto markets have experienced a significant recovery after the sudden drop from the day before. While the impact of Binance’s agreement with the US Department of Justice for $4.3 billion continues, Bitcoin investors have focused on the price of BTC during this process.
Well-known investor and analyst Daan Crypto Trades pointed out that despite the drop to $35,600 after the Binance development, the BTC/USD pair has been in a trading range for two weeks. The investor shared the following comment with his followers on <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">social media</a> platform X:
<blockquote>
 “A nice touch and another bounce from the low range. It is quite clear that the most important levels in this area are $35,700 and $38,000.”
</blockquote>
<img decoding="async" class="aligncenter wp-image-279901 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/btc-grafik-yorumu.jpg" alt="" width="1255" height="780">
For optimistic market participants who are waiting for the next stage of the Bitcoin bull run, the range between $35,000 and $38,000 is equally intriguing. This view was also shared by popular investor and analyst Credible Crypto, who provided some insights about future developments:
<blockquote>
 “As other investors have pointed out, spot premium is back. A bottom is forming here. However, for a few days of accumulation before the takeoff, I believe there is a small range here, with the upside currently capped around $37,000 and the downside around $35,000. Based on the chart in my quoted tweet, I expect the lowest levels to be taken around $35,500 before the accumulation phase ends and the next impulse starts.”
</blockquote>
<img decoding="async" class="aligncenter wp-image-279900 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/btc-liq-verisi-scaled.jpg" alt="" width="2560" height="1441">
<h2 class="p1" style="text-align: justify" id="critical-bitcoin-warning-from-a-prominent-figure">Critical Bitcoin Warning from a Prominent Figure</h2>
Despite being known for his long-term bullish outlook on Bitcoin, prominent investor and analyst Jelle warned his followers that buyer interest needs to solidify. The prominent figure commented on Bitcoin’s four-hour chart:
<blockquote>
 “Although we haven’t hit a single low, there are things Bitcoin needs to do. We couldn’t make a higher low for the first time in this consolidation, and now we’re back below the key level. Bulls need to step in here.”
</blockquote>
<img decoding="async" class="aligncenter wp-image-279898 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/btc-4s-grafik.jpg" alt="" width="1792" height="828"> Continue Reading: <a href="https://en.coin-turk.com/whats-happening-in-the-bitcoin-front/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/whats-happening-in-the-bitcoin-front/</a>

What’s Happening in the Bitcoin Front?

Table of Contents

COINTURK NEWS

Other articles published on Nov 22, 2023

MCADE price explodes ahead of Metacade’s mainnet launch, up 106% this week

What are Nodes in Crypto? Types of Blockchain Nodes

Bitcoin Mining Pool F2Pool Under Scrutiny for Alleged Censorship of Transactions

Apple CEO Tim Cook Advocates for AI Regulatory Guardrails

Ethereum Active Addresses Spike, What Does It Mean?

What Happened Today With Binance And CEO CZ?

Join our free newsletter for daily crypto updates!