Greed

Future

Bitcoin

<a href="https://coin-turk.com/bitfinex-borsasindan-calinan-bitcoinlerde-buyuk-hareketlilik" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> price has surpassed $44,000 after purchases made by individual and institutional investors, and open interest (OI) continues to rise. Traders and analysts are expecting a price movement towards $45,000 and then rapidly to $50,000. However, popular crypto analyst Willy Woo pointed out that the <a href="https://en.coin-turk.com/be-prepared-for-a-bitcoin-pullback-of-up-to-23500/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> gap on the Chicago Mercantile Exchange (CME) is at the $39,700 level.
<h2 style="text-align: justify" id="bitcoin-and-the-cme-gap">Bitcoin and the CME Gap</h2>
CME recently became the largest Bitcoin futures exchange, surpassing <a href="https://coin-turk.com/binance-50-000-egitim-odulu-dagitiyor-ogren-kazan-sistemine-dair-tum-detaylar" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> in importance. Following this, CME’s open interest and other data could be crucial in predicting BTC price movements.
Renowned crypto analyst Willy Woo published a post on X on December 7th. According to the post, there is a Bitcoin CME gap that needs to be filled at the $39,700 level. This means that BTC price needs to correct to $39,700 before starting another rally.
<blockquote>
 As far as I can count, 28 out of 30 gaps in CME daily candles have been filled (93%). The remaining unfilled gap is shown in the bottom left of this chart.
</blockquote>
<img decoding="async" class="aligncenter size-full wp-image-285756" src="https://coin-turk.com/wp-content/uploads/2023/12/btc-cme-grafik.png" alt="" width="721" height="489">
In the daily price analysis, Bitcoin seems to be experiencing a pullback from its periodical high of $44,408. Despite the community’s disbelief in Bitcoin expectations regarding CME due to the recent rally and positive sentiment, the Fear and Greed Index is currently at an extreme greed level.
Furthermore, there has been a change in the CME Bitcoin futures open interest (OI). Open positions decreased by 2% in the last 24 hours, dropping to $5 billion. There was also a slight drop in the BTC futures OI on <a href="https://en.coin-turk.com/are-crypto-exchanges-reliable-binance-publishes-11th-reserve-proof/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, although it increased by 1% in the last 24 hours.
<h2 style="text-align: justify" id="the-future-of-btc-price">The Future of BTC Price</h2>
Considering the Bitcoin CME gap, the BTC price could experience a 10% decline. In such a scenario, it could provide investors with a final buying opportunity before another rally due to the expectation of a Spot BitcoinETF and the dovish stance of the US Federal Reserve.
The BTC price is currently finding buyers at the $43,500 level, and there has been a negative 0.58% change in price in the last 24 hours. The lowest and highest price levels in the last 24 hours were seen at $43,478 and $44,265, respectively. There has also been a noticeable decrease in trading volume, with a 32% decrease in the last 24 hours, reflecting a diminished interest among traders.
<div class="sorumluluk_reddi" style="text-align: justify">Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and should conduct their trades based on their own research.
</div> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-price-exceeds-44000-after-theft-from-bitfinex-exchange/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-price-exceeds-44000-after-theft-from-bitfinex-exchange/</a>

Bitcoin Price Exceeds $44,000 After Theft from Bitfinex Exchange

Table of Contents

COINTURK NEWS

Autres articles publiés le 7 déc. 2023

ARK Invest Doesn’t Stop: The Company Sells Its Coinbase and Grayscale Bitcoin Trust Shares!

Robinhood launches crypto service in the EU, offers BTC rewards and over 25 crypto

XRP Chart Analysis Shows Consistent Market Share Since 2014

U.S. Senators Seek FTC’s Response on AI Scams Targeting Older Americans

Ripple has 200 million XRP to sell in December; What’s next?

Bitcoin privacy wallet says Jack Dorsey’s mining pool censored their transactions

Join our free newsletter for daily crypto updates!