Cryptocurrency

Bitcoin

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 <p class="paragraph">Although the majority of assets in the cryptocurrency sector got off to a slow start this week, Bitcoin (BTC) could be looking at a massive advance toward and beyond the threshold of $47,000 soon, provided it manages to break the key <a rel="noopener noreferrer nofollow" title="resistance" href="https://thebittimes.com/tag/resistance.html">resistance</a> that currently stands in its way.</p>
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 <p class="paragraph">As it happens, Bitcoin’s realized price distribution (URPD) or unspent transactions output (UTXO), or the amount remaining after every transaction, suggests that the maiden cryptocurrency is facing “stiff <a rel="noopener noreferrer nofollow" title="resistance" href="https://thebittimes.com/tag/resistance.html">resistance</a> at $38,500,” as noted by crypto market analyst Ali Martinez in an X post on November 26.</p>
 <p class="paragraph">Having said that, the crypto trading expert also observed that the flagship decentralized finance (DeFi) asset “slicing through this barrier could help BTC advance toward $47,360,” which is the next significant point in the chart <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> that Martinez shared.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/xhT1HIjkIf5xaD0QUEA24--ggSXa0wVRt7zPD9Wbq6n1yIDEXCAsY8usrveSOucf7wkUTUz9g4axTqwYjnnPdG0wgz4oLRUHvhxFIEU1qZtlZY7j8CtcLzZPOLmXf7xxBvffc8eOy8nqyr8PxtqjjvE" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin UTCO realized price distribution. Source: </em><em>Ali Martinez</em>
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 <p class="paragraph">Specifically, UTXO UPRD shows at which prices the current Bitcoin UTXOs appeared, each bar representing the existing BTC amount that last moved within that price bucket. ATH-Partitioned refers to buckets defined by dividing the range between 0 and the current ATH into 100 equally-spaced partitions.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
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 <p class="paragraph">As things stand, Bitcoin is currently trading at the price of $37,282, which indicates a decline of 1.23% in the last 24 hours while still retaining the increase of 0.18% across the previous seven days and a more significant gain of 9.33% over the past month, as per the latest information on November 27.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/PJspciNQFeFLZh2Bd_29_uqtGXKfGFuaa7Ee34ZhKlRLv7U4jvlUEx_-aZWjJADxNw9gRGj07ltYyOxVd90mbYgkhb5JrC5p4TZz7Gity6b0o-sd8rKV2yglyEgAGBtak2wDZOvFDuw8Mx6iP6UP4oM" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 30-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">In fact, the largest crypto by market capitalization recently got close to the above <a rel="noopener noreferrer nofollow" title="resistance" href="https://thebittimes.com/tag/resistance.html">resistance</a> as it hit $38,190 on November 24, and as anticipation builds for the upcoming halving event and possible approval of a spot Bitcoin exchange-traded fund (ETF), it could indeed break it and proceed toward $47,000.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-slicing-through-this-resistance-could-send-it-over-47k-tbt71729.html">https://thebittimes.com/bitcoin-slicing-through-this-resistance-could-send-it-over-47k-tbt71729.html</a></p>

Bitcoin slicing through this resistance could send it over $47k

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