bullish

Bitcoin

when

Status

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-shows-upward-trend-as-investors-gain-confidence/" data-wpel-link="internal">Bitcoin Shows Upward Trend as Investors Gain Confidence</a> 
BTC shows an upward trend and hovers above $69,500, but altcoins have yet to start the expected rise. This week’s key event is the Fed meeting and the upcoming US <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> on Friday. Although investors encouraged by Trump‘s statements have increased their appetite for BTC, altcoins may wait for the monthly close. 
<h2 style="text-align: justify" id="current-status-of-bitcoin-miners">Current Status of Bitcoin Miners</h2> 
After the largest miner announced a $100 million purchase, investors breathed a sigh of relief. On the other hand, mining activity is strengthening. Mining difficulty is expected to break an all-time record again at the end of the month. Hashrate and other mining difficulty indicators, confirming the end of the capitulation phase after the halving, already pointed to such a recovery. 
According to MiningPoolStats data, the difficulty reaching 665 exahash (EH/s) may not rise as quickly as expected, according to CryptoQuant. One of the Quicktake blog posts highlighted the miner position index. 
<blockquote> 
 “The miner position index (MPI) is at a very low level. This situation adds some selling pressure to the current structures but does not create significant selling pressure overall.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-374844 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-mpi.png" alt="" width="1532" height="857"> 
XBTManager wrote the following; 
<blockquote> 
 “After the $53,000 support level, miner exits continue to increase. <a href="https://en.coin-turk.com/bitcoin-etfs-surge-as-blackrock-and-fidelity-lead-the-charge/" data-wpel-link="internal">Bitcoin</a>‘s current price level has seen exits from miner wallets, which could create potential selling pressure. A similar example was seen on May 21.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-374845 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-miner-cikis.png" alt="" width="1535" height="855"> 
This scenario could trigger a return to the $60,000 base even if we see a rise in the short term. However, the removal of MTGOX and German sales, along with Trump’s encouraging speech, should remind us that we are in a much better place than in May. 
<h2 style="text-align: justify" id="bitcoin-price-prediction">Bitcoin Price Prediction</h2> 
Crypto markets’ fear and greed index has risen above 70 again. This return in the index, which had fallen to the extreme fear zone for a long time, shows why recent major developments could trigger higher levels. The bullish sentiment is at its best levels in 16 months since the start of the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a>. There are many justifiable reasons for investors to be hopeful for the last quarter. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-374846 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/kripto-korku-endeksi.png" alt="" width="1395" height="632"> 
Santiment published a survey last week on when BTC might surpass its ATH level again. The dominant view here indicates that BTC could set a new record level in October, especially at the end of the month. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-shows-upward-trend-as-investors-gain-confidence/" data-wpel-link="internal">Bitcoin Shows Upward Trend as Investors Gain Confidence</a></h5>
The post <a href="https://en.coin-turk.com/bitcoin-shows-upward-trend-as-investors-gain-confidence/" data-wpel-link="internal">Bitcoin Shows Upward Trend as Investors Gain Confidence</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Shows Upward Trend as Investors Gain Confidence

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