Bitcoin

Status

<p style="text-align: justify"><a href="https://en.coin-turk.com/bitcoins-potential-as-a-universal-payment-protocol-according-to-former-paypal-executive/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, for the first time since May 5, 2022, made a significant leap by reaching $38,300. There are different approaches regarding the reasons behind this increase. Additionally, the driving factor that will bring the Bitcoin price to $40,000 has been revealed. The announcement was made by the cryptocurrency analysis company Santiment, with a particular emphasis on <a href="https://en.coin-turk.com/tether-promotes-paolo-ardoino-to-ceo-position-in-a-major-step-forward/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a> (USDT) whales.</p>
<h2 style="text-align: justify" id="santiment-tether-whales-supporting-bitcoin-s-surge">Santiment: Tether Whales Supporting Bitcoin’s Surge</h2>
<p style="text-align: justify">According to Santiment, the driving force behind the increase and Bitcoin’s journey towards $40,000 is Tether whales. According to Santiment, the increase in Bitcoin price is attributed to a significant contribution from the top 100 Tether addresses that have injected a total of $1.67 billion into the <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a> in the past six months.</p>
<p><img decoding="async" class="wp-image-280846 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/santiment-kripto-cointurk.jpg" alt="santiment kripto cointurk" width="1627" height="1041"></p>
<p style="text-align: justify">The continuation of buying power by Tether whales, especially in Tether (USDT), increases the expectations that the cryptocurrency will soon surpass $40,000. In the midst of Bitcoin’s recent rally, the influence of Tether whales has become increasingly evident.</p>
<p style="text-align: justify">The increase in Tether’s buying power is a significant indicator for Bitcoin to break the $40,000 barrier. If this trend continues, it will signify an increasing investor confidence in the market and potentially pave the way for further upward momentum for Bitcoin in the coming weeks.</p>
<h2 style="text-align: justify" id="current-status-of-bitcoin-price">Current Status of Bitcoin Price</h2>
<p style="text-align: justify">Looking at cryptocurrency Bitcoin, we have seen that it surpassed the $38,000 resistance level twice today. However, the price subsequently dropped below the $38,000 level. At the time of writing, it is trading at $37,825. These back and forth movements in Bitcoin have reportedly led to significant liquidations in short and long positions.</p>
<p style="text-align: justify">According to Coinglass data, we can see that $27.55 million worth of liquidations occurred in Bitcoin in the last 24 hours. This situation is interpreted as Bitcoin solidifying its position in the market. Clearing positions both below and above the price increase is significant.</p>
<p><img decoding="async" class="aligncenter wp-image-280845 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/btc-tasfiye-cointurk.png" alt="btc tasfiye cointurk" width="1023" height="543"></p>
<p style="text-align: justify">In conclusion, Santiment closely monitors the interaction between Tether whales and Bitcoin’s price movements. According to the cryptocurrency analysis company, the expectation for Bitcoin to surpass $40,000 is fueled by the ongoing capital inflow from these influential Tether holders. As the market evolves, the collaboration between the performance of Bitcoin and Tether (USDT) whale activity is likely to shape the cryptocurrency landscape in the short term.</p> Continue Reading: <a href="https://en.coin-turk.com/tether-whales-supporting-bitcoins-surge-says-santiment/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/tether-whales-supporting-bitcoins-surge-says-santiment/</a>

Tether Whales Supporting Bitcoin’s Surge, Says Santiment

Table of Contents

COINTURK NEWS

Other articles published on Nov 24, 2023

Dogecoin to Moon in 2024? Analyst Predict DOGE Price Rally Soon

Cathie Wood’s Ark Invest Quietly Dumps Bitcoin Holdings Despite Public Bullish Stance

STFX (STFX) Price Prediction 2024, 2025, 2030, 2040, and 2050

Samsung Launches a Bitcoin Futures ETF

Bitcoin and Ethereum Options Worth $6.5 Billion Expired: What’s Next?

Why is BLUR Pumping? This Major Exchange’s Historic Listing and $32M Whale Accumulation Trigger M...

Join our free newsletter for daily crypto updates!