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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-rises-above-69500-while-altcoins-await-their-turn/" data-wpel-link="internal">Bitcoin Rises Above $69,500 While Altcoins Await Their Turn</a> 
BTC has turned upwards again and is hovering 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 great statements have increased their appetite for BTC, a monthly close may be awaited for altcoins. 
<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 the all-time record again at the end of the month. Hashrate and other mining difficulty indicators, which confirmed the end of the capitulation phase after the halving, were already pointing to such a recovery. 
According to MiningPoolStats, the difficulty has reached 665 exahash (EH/s), but according to CryptoQuant, it may not rise as quickly as expected. One of the Quicktake blog posts highlighted the miner position index. 
<blockquote> 
 “The miner position index (MPI) is at a very low level. This 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; 
<blockquote> 
 “After the $53,000 support level, miner exits continue to increase. <a href="https://en.coin-turk.com/bitcoin-price-continues-to-climb/" data-wpel-link="internal">Bitcoin</a> has been observed exiting from miner wallets at the current price level, 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 Germany 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 from the extreme fear zone after 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 valid reasons for investors to be hopeful about 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. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-rises-above-69500-while-altcoins-await-their-turn/" data-wpel-link="internal">Bitcoin Rises Above $69,500 While Altcoins Await Their Turn</a></h5>
The post <a href="https://en.coin-turk.com/bitcoin-rises-above-69500-while-altcoins-await-their-turn/" data-wpel-link="internal">Bitcoin Rises Above $69,500 While Altcoins Await Their Turn</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Rises Above $69,500 While Altcoins Await Their Turn

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