Greed

United

Bitcoin ETF

Bitcoin

April

<p>Bitcoin price surpassed $38,000 as investors maintained a firm grip above critical support levels. Bulls have the overall near-term technical advantage due to a number of optimistic market sentiment indicators, including a spot Bitcoin ETF, a dovish US Federal Reserve, and Bitcoin halving.</p>
<p>On Friday morning, Bitcoin <a href="https://www.cryptopolitan.com/ark-invest-sells-off-4-7m-in-coinbase-stock/" rel="noopener noreferrer nofollow">(BTC)</a> surpassed the $38,000 threshold, sparking gains in the broader crypto market. Several significant tokens experienced a 5% surge within the previous twenty-four hours.</p>
<h2 class="wp-block-heading" id="bitcoin-bulls-on-the-march">Bitcoin bulls on the march</h2>
<p>As of the beginning of October, the total market capitalization has increased by approximately $400 billion, reaching $1.5 trillion, a level not observed since May 2022.</p>
<p>BTC is currently trading at $38,536.34 per coin on CoinMarketCap, with a 24-hour trading volume of $22,171,207,334.06. This is a 1.76% increase in the last 24 hours and a 1.98% increase in the last 7 days.</p>
<p>The global crypto market valuation is now $1.52 trillion, a 1.88% increase over the last 24 hours and a 69.6% increase over a year ago. BTC has a market cap of $755 billion as of today, signifying a 49.72% domination. Meanwhile, the market cap of stablecoins is $130 billion, accounting for 8.56% of the total crypto market worth.</p>
<p>According to <a href="https://glassnode.com/" rel="noopener noreferrer nofollow" target="_blank">Glassnode data</a>, over 37,000 BTC worth $1.4 billion have been taken off exchanges since Nov. 17, indicating that investors are taking direct custody of their currencies.</p>
<p>The outflow is most likely due to a preference for long-term holding strategies. However, part of it could be attributed to Binance’s guilty plea. The market is experiencing strong demand and weakening sell-side pressure as a result of the anticipated introduction of a spot exchange-traded fund (ETF) in the United States.</p>
<p>Exchange outflows have typically coincided with local price lows, lending credibility to expectations of a medium-term price rise.</p>
<h2 class="wp-block-heading" id="bitcoin-price-set-to-hit-60k-in-april-2024">Bitcoin price set to hit $60K In April 2024</h2>
<p>Late Tuesday, BTC momentum began to surge after Federal Reserve Governor Chris Waller stated that recent statistics indicating a downturn in the economy and continued moderation in inflation demonstrated that present policies were in the “right spot.”</p>
<p>Waller also stated that if inflation continues to fall, a strong case is needed for rate decreases within the next few months.</p>
<p>Interest rate choices influence markets. Higher interest rates typically mean that risk assets such as stocks and cryptocurrencies suffer as investors take profits and invest in bonds.</p>
<p>According to Matrixport, Bitcoin’s bullish trajectory will reach $63,140 by April 2024. The firm anticipates a three-year bull market due to reasons such as historical tendencies, halving mining rewards, and favorable geopolitical and macroeconomic conditions.</p>
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   <p lang="en" dir="ltr">Bitcoin Fear and Greed Index is 71 — Greed<br>Current price: $38,554 <a href="https://t.co/U80Xpqx2xA" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/U80Xpqx2xA</a></p>— Bitcoin Fear and Greed Index (@BitcoinFear) <a href="https://twitter.com/BitcoinFear/status/1730542292191359353?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">December 1, 2023</a>
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<p>Matrixport believes that Bitcoin will reach $125,000 by December 2024, following the halving of the currency. Institutional adoption will drive the next bull market.</p>
<p>According to the Nov 22 “Matrix on Target” forecast, Bitcoin will cross $38,000 by the end of November with an 80% chance, followed by a rally to $40,000 in December with a 90% chance. Massive trade volumes in the larger crypto market imply that investors and whales are purchasing amid the spot BTC ETF excitement.</p>
<p>Bloomberg also forecasted a strong chance of the BTC price reaching $40000 in December due to a number of positive variables such as expected Fed rate decreases and spot Bitcoin ETF approval.</p>
<p><a href="https://www.bloomberg.com/news/articles/2023-12-01/bitcoin-btc-brings-40-000-price-into-view-on-etf-fed-bets" rel="noopener noreferrer nofollow" target="_blank">Bloomberg Intelligence </a>predicts that a number of US spot Bitcoin ETFs will be approved by the Securities and Exchange Commission by January. A resetting of rate bets or unanticipated snarls for ETFs might still crash Bitcoin, but for the time being, sentiment is positive.</p>

$1B in Bitcoin moved! Is $40K the next stop for the crypto bulls?

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