Bitcoin

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<a href="https://en.coin-turk.com/beware-of-this-movement-in-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> broke the $37,000 level for the first time in 18 months, but investors continue to have different opinions on <a href="https://en.coin-turk.com/bitcoin-miners-face-increasing-challenges-where-will-it-end/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>‘s price movement. Bitcoin continues to steadily progress towards the $40,000 level during this period. Data obtained from TradingView shows that the BTC/USD pair surpassed the $37,000 level for the first time before the Wall Street opening.
<h2 class="p1" style="text-align: justify" id="why-is-bitcoin-rising">Why is Bitcoin Rising?</h2>
Bitcoin, which experienced a 6.6% increase in the first days of November, continues to surprise some market participants by gaining approximately 30% in October. According to analysts at on-chain data monitoring platform Material Indicators, the real problem for Bitcoin lies in the trading volume.
The company shared in a post from its official X page that this rise was fast, but the support based on strong volume at current levels has never been seen before:
<blockquote>
 “Support is fixed at the $33,000 level. Meanwhile, the $40,000 resistance has risen to the $42,000 range. It is undeniable that the price challenges a series of different local peak signals, but it is also impossible to deny that something seems wrong with this movement.”
</blockquote>
<img decoding="async" class="aligncenter wp-image-275030 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/btcusd-emir-defteri-scaled.jpg" alt="" width="2560" height="1416">
<h2 class="p1" style="text-align: justify" id="attention-grabbing-bitcoin-comments-from-market-analysts">Attention-Grabbing Bitcoin Comments from Market Analysts</h2>
Following these comments, popular investor Skew, who attracts attention with his posts on X, revealed the ongoing whale sell-off towards $40,000, which will most likely be seen as an important psychological level on its own.
<img decoding="async" class="aligncenter wp-image-275031" src="https://coin-turk.com/wp-content/uploads/2023/11/skew-tweet-1.png" alt="" width="550" height="421">
With these developments, popular <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">analyst</a> Tedtalksmacro, closely followed by the crypto community, pointed out the increasing open interest (OI) that constitutes the fundamental basis for the sudden upward movements in recent weeks and months.
<img decoding="async" class="aligncenter wp-image-275032" src="https://coin-turk.com/wp-content/uploads/2023/11/ted-tweet.png" alt="" width="550" height="697">
According to CoinGlass, a blockchain data analysis company, the total Bitcoin futures trading OI data was over $17 billion at the time of writing, which is the highest value since mid-April. Tedtalksmacro made the following comments in his analysis:
<blockquote>
 “We will realize that it is a full bull time when the market ignores this and follows higher trends with higher OI values. It is a data to be monitored.”
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-275033 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/btc-vadeli-islem-verisi.png" alt="" width="1398" height="496"> Continue Reading: <a href="https://en.coin-turk.com/why-is-bitcoin-rising-market-analysts-share-attention-grabbing-bitcoin-comments/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/why-is-bitcoin-rising-market-analysts-share-attention-grabbing-bitcoin-comments/</a>

Why is Bitcoin Rising? Market Analysts Share Attention-Grabbing Bitcoin Comments

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