Bitcoin

Strong

Monero

<a href="https://en.coin-turk.com/the-long-journey-of-spot-bitcoin-etf-will-sec-approve-it-in-2024/" data-wpel-link="internal">Bitcoin</a> (BTC) continues to hold strong above $34,000 despite significant macro, expiration, and end-of-month pressures. As investors try to understand what’s next for the largest cryptocurrency in the midst of the ongoing rally, the question of whether the rally will continue remains a major concern. After a 30% increase this month, BTC has been trading mostly between $34,100 and $34,900 throughout the week, but CryptoQuant’s research leader Julio Monero has issued a warning of a potential decline. 
<h2 style="text-align: justify" id="strong-monero-bitcoin-s-price-could-drop-strong">Monero: Bitcoin’s Price Could Drop</h2> 
Julio Monero, the research leader at CryptoQuant, pointed to two important on-chain metrics that indicate a pause in the rise following Bitcoin’s recent price rally, in a statement on his personal account on <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude">social media</a> platform X. 
Monero noted that short-term Bitcoin investors have been selling Bitcoin with a profit level of 6%, the highest since April. At this point, the pullback following the price reaching its highest level in a month at around $35,200 this week could be a result of short-term investors taking profits. 
<img decoding="async" class="aligncenter size-full wp-image-271180" src="https://coin-turk.com/wp-content/uploads/2023/10/Bitcoin-Son-Durum-scaled.jpeg" alt="" width="2039" height="2560"> 
Furthermore, Bitcoin whales have been spending at the highest level on a daily timeframe since June, while larger whales are moving their BTC holdings. Whale Alert, a platform that detects major movements in blockchains and shares them publicly, reported significant BTC transfers to Coinbase and <a href="https://en.coin-turk.com/court-makes-amendment-in-lawsuit-against-binance-new-date-given/" data-wpel-link="internal">Binance</a> exchanges following the rapid increase in the price of BTC above $35,000. 
<h2 style="text-align: justify" id="strong-what-s-next-for-btc-strong">What’s Next for BTC?</h2> 
Crypto analyst Skew reported that open interest (OI) in Bitcoin is extremely flat and there hasn’t been a significant increase yet. Another crypto analyst, Crypto Tony, expects BTC to touch the resistance around $36,000 and then drop in price. 
BTC has seen a 15% increase this week and is currently trading around $34,100. The lowest and highest price levels in the last 24 hours were $33,416 and $34,238, respectively. Additionally, the trading volume has decreased by 18% in the last 24 hours. Continue Reading: <a href="https://en.coin-turk.com/bitcoin-bulls-hold-strong-above-34000-despite-inflationary-crisis-whats-next-for-btc/" data-wpel-link="internal">https://en.coin-turk.com/bitcoin-bulls-hold-strong-above-34000-despite-inflationary-crisis-whats-next-for-btc/</a>

Bitcoin Bulls Hold Strong Above $34,000 Despite Inflationary Crisis: What’s Next for BTC?

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