Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-climbs-investors-eye-next-moves/" data-wpel-link="internal">Bitcoin Climbs, Investors Eye Next Moves</a><br></p>
<p style="text-align: justify">The king cryptocurrency soared to $43,888 and at the time of writing, buyers are maintaining their strong position. The latest surge continued as of the time of writing, surpassing the $44,000 mark around 23:17. What’s the fundamental reason for the rise? What should investors expect? Here are the details.</p> 
<h2 style="text-align: justify" id="why-is-bitcoin-rising">Why Is Bitcoin Rising?</h2> 
<p style="text-align: justify">After the approval of the Spot <a href="https://en.coin-turk.com/venture-smart-financial-plans-to-launch-spot-bitcoin-etf/" data-wpel-link="internal">Bitcoin</a> ETF, a massive sell-off occurred in the daily candle on January 12th. The price dropped from the $49,000 level to $38,555. However, today a new and strong bullish candle is forming. The price climbed up to $44,180, marking the first return to this region since the January 12th drop, making today’s recovery of critical importance.</p> 
<p style="text-align: justify">We often talked about the resistance at the $43,700 level and how breaking it could start the journey to $50,000. With the weakening of GBTC outflows and the return of spot buyers, BTC has surpassed the region. Now, with closures above the $44,300 region, the continuation of the rally can be expected.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-312337 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-07_23-24-46.png" alt="" width="1814" height="836"></p> 
<p style="text-align: justify">It is too early to celebrate a new breakout, as previous attempts remained deviations. Support from the Asian markets opening hours later will be important. The view of three 25 basis point cuts from the Fed continues.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-climbs-investors-eye-next-moves/" data-wpel-link="internal">Bitcoin Climbs, Investors Eye Next Moves</a></h5>

Bitcoin Climbs, Investors Eye Next Moves

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