COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Bitcoin Price Continues to Hover at $35,000: What’s Next?
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Cryptocurrency News > Bitcoin Price Continues to Hover at $35,000: What’s Next?
Cryptocurrency News

Bitcoin Price Continues to Hover at $35,000: What’s Next?

In Brief

  • The price of Bitcoin continues to hover around $35,000, and the cumulative value of cryptocurrencies is targeting the next resistance. Investors are encouraged by strong institutional demand, leading to a recovery in altcoins. So, what can we expect in the coming days? Will volatility increase again? Will the crypto market rally continue?ContentsExpert Bitcoin PredictionsBitcoin and […]
COINTURK NEWS
COINTURK NEWS 2 years ago
Share
SHARE

The price of Bitcoin continues to hover around $35,000, and the cumulative value of cryptocurrencies is targeting the next resistance. Investors are encouraged by strong institutional demand, leading to a recovery in altcoins. So, what can we expect in the coming days? Will volatility increase again? Will the crypto market rally continue?

Contents
Expert Bitcoin PredictionsBitcoin and Exchange Inflows

Expert Bitcoin Predictions

As we mentioned yesterday, Powell will make two speeches this week, and we will see the statements of members throughout the week. The data that came out last Friday changed the market’s 2024 interest rate expectations in favor of cryptocurrencies. Interest rate cuts could start in mid-2024, and by the end of the year, we could see a total of 100bp reduction in interest rates.

Popular crypto analyst Skew emphasizes that the battle is intensifying. As open interest in futures increases, investors may expect more volatility in the coming days. Daan Crypto Trades, drawing attention to the funding rate in futures, said:

“There are quite a few positions opened over the weekend, so I think we will see more fluctuations in the markets.”

Crypto Tony argues that the expectation of a rally continues, but taking long positions at the current price is risky. According to the analyst’s prediction, it is advisable to stay away from short positions unless the support level of $34,100 is lost. The analyst, who says that the price is at a crucial point, wrote that he will close his long position opened at lower levels below $33,000.

Bitcoin and Exchange Inflows

Current data highlights the increase in the number of long-term investors. As we have previously mentioned, the frenzy of accumulation shows that a new group of investors is making significant purchases above $30,000, raising the average cost. On the other hand, there is an important data showing that the accumulation continues. Net outflows from exchanges are reaching the highest levels of the year.

Van Straten stated the following in his CryptoSlate analysis dated November 3:

“There is a new momentum in Bitcoin withdrawal transactions; recently, more than 61,000 BTC have been withdrawn, which is a significant increase compared to approximately 43,000 BTC, which is the lowest level of the year. This increase indicates that investors prefer to keep their Bitcoin assets outside of exchanges and likely signifies a stronger long-term belief in the value of Bitcoin.”

With the increasing institutional demand, high outflows from exchanges, and strong price performance, it will not be surprising if volatility rises in the upward direction.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and therefore carry risks and should conduct their own research.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Bitcoin Surges Again: Is it Time to Dive into Altcoins?

Stay Ahead with Key Crypto Developments This Week

Cryptocurrency Markets Struggle as Bitcoin Holds Steady

James Howells Relentlessly Hunts for Millions in Misplaced Bitcoin

Investors Flock to Spot Bitcoin ETFs With Billions in New Funding

COINTURK NEWS 6 November, 2023 - 7:09 pm 6 November, 2023 - 7:08 pm
Share This Article
Facebook Twitter
Share
Previous Article XRP Price Surges to $0.72 as Ripple Gains Momentum
Next Article Crypto Currencies: The Future of Investments
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Bitcoin Surges Again: Is it Time to Dive into Altcoins?
Cryptocurrency News
Woo Predicts BTC’s Unique Market Position for the Next 20 Years
Bitcoin (BTC)
Michael Poppe Predicts Altcoin Surge with New Price Target
Technical Analysis
Cryptocurrency Takes Center Stage with Exciting Price Movements
Technical Analysis
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?