{"id":562386,"date":"2023-11-25T08:48:11","date_gmt":"2023-11-25T08:48:11","guid":{"rendered":"https:\/\/wncen.com\/?p=562386"},"modified":"2023-11-25T08:49:03","modified_gmt":"2023-11-25T08:49:03","slug":"bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\/","title":{"rendered":"Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 &#8211; Details"},"content":{"rendered":"<p>In a dramatic twist, a mere 48 hours after the United States laid out a hefty $4.3 billion settlement proposal with the major player in the crypto market, Binance, Bitcoin price defied expectations by catapulting to a new peak for the year.<\/p>\n<p><a href=\"https:\/\/www.bitstamp.net\/\" target=\"_blank\" rel=\"noopener nofollow\">Breaking the $38,000 barrier<\/a> in the early stages of the New York trading session on Friday, the cryptocurrency sector, witnessed the long-anticipated surge. Bitcoin&#8217;s recent consolidation within a pennant pattern had hinted at the prospect of a bullish upswing, and it seems those predictions have materialized.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/blur-token-rules-todays-top-100-crypto-ranking-with-88-rally-details\/\" target=\"_blank\" rel=\"noopener \">BLUR Token Rules Today\u2019s Top 100 Crypto Ranking With 88% Rally \u2013 Details<\/a><\/div>\n<h2><strong>Bitcoin Price Hits Highest Peak Since 2022<\/strong><\/h2>\n<p>Bitcoin&#8217;s rally also occurred following the Thanksgiving holiday in the US, marking its highest point since May 2022. This surge took place in the face of subdued activity in conventional markets. Although the top coin has experienced a slight pullback, it still holds a 1.5% gain for the day.<\/p>\n<p>Traders are incredibly excited by Friday&#8217;s surge in Bitcoin&#8217;s price, which has rekindled the fear of missing out (FOMO) feeling. Because of this spike, Bitcoin may be able to reach the next major resistance level, which is located at about $42,000, in the next few weeks.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Still so far, so good on <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a>.<\/p>\n<p>Slowly grinding upwards to a new resistance point and a break above $38K immediately means $40K is next. <a href=\"https:\/\/t.co\/3ZUkS72I6g\" rel=\"nofollow\">pic.twitter.com\/3ZUkS72I6g<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/98741649?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 24, 2023<\/a><\/p><\/blockquote>\n<p>Some market watchers are optimistic about its short-term trajectory, with trader Michael Van Pope suggesting in a tweet that the next milestone for Bitcoin is set at $40,000.<\/p>\n<p>The US Department of Justice and Binance reached an agreement, which is undoubtedly the most significant development of the month. Changpeng Zhao was forced to resign as the CEO of the company, and the exchange was forced to pay a punishment totaling around $4.3 billion. Binance, the biggest cryptocurrency exchange in the world, has named Richard Teng as its new CEO.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/WnzAWpBV\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">Bitcoin poised to reclaim the $38K territory today. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>Bitcoin Circulating Supply In Profit Region<\/strong><\/h2>\n<p>A recent <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow\">uptick in market liquidations<\/a> is another important component impacting the Bitcoin price. Long and short position liquidations have increased significantly across different time frames, with a total of $80.29 million in liquidations in the last 24 hours, according to statistics from Coinglass.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/analysts-crystal-ball-xrp-bulls-eyeing-40-price-target-despite-doubts\/\"> Analyst\u2019s Crystal Ball: XRP Bulls Eyeing $40 Price Target, Despite Doubts<\/a><\/div>\n<pre style=\"text-align: center\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-562388 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-138.png?w=860&#038;resize=860%2C249\" alt=\"\" width=\"860\" height=\"249\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-138.png?w=1243 1243w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-138.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-138.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-138.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-138.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-138.png?w=1140 1140w\" sizes=\"(max-width: 860px) 100vw, 860px\">Source: Coinglass<\/pre>\n<p>In a related development, during last week&#8217;s gain, the proportion of Bitcoin&#8217;s circulating supply that is currently in profit hit 84%, or 16.36 million BTC. Additionally, Glassnode noted that this is historically noteworthy because it is significantly higher than the 74% all-time mean number.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">With <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> trading at yearly highs above $37k last week, over 83% of the coin supply was driven back into profitable territory.<\/p>\n<p>However, the magnitude of unrealized profit remains modest, and is not yet sufficient for long-term investors to divest.<a href=\"https:\/\/t.co\/IGJpglF20J\" rel=\"nofollow\">https:\/\/t.co\/IGJpglF20J<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/56657136?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 22, 2023<\/a><\/p><\/blockquote>\n<p>Meanwhile, further fueling the positive outlook is the heightened expectation surrounding the potential approval of spot bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission. With a looming deadline of January 10, the SEC is tasked with evaluating numerous pending applications for these ETFs.<\/p>\n<p>If given the green light, these ETFs are poised to provide investors with a more cost-effective avenue to tap into the Bitcoin market, adding another layer of optimism to the current bullish sentiment.<\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em>Featured image from Freepik<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a dramatic twist, a mere 48 hours after the United States laid out a hefty $4.3 billion settlement proposal with the major player in the crypto market, Binance, Bitcoin price defied expectations by catapulting to a new peak for the year. Breaking the $38,000 barrier in the early stages of the New York trading session on Friday, the cryptocurrency sector, witnessed the long-anticipated surge. Bitcoin&#8217;s recent consolidation within a pennant pattern had hinted at the prospect of a bullish upswing, and it seems those predictions have materialized. Related Reading: BLUR Token Rules Today\u2019s Top 100 Crypto Ranking With 88% Rally \u2013 Details Bitcoin Price Hits Highest Peak Since 2022 Bitcoin&#8217;s rally also occurred following the Thanksgiving holiday in the US, marking its highest point since May 2022. This surge took place in the face of subdued activity in conventional markets. Although the top coin has experienced a slight pullback, it still holds a 1.5% gain for the day. Traders are incredibly excited by Friday&#8217;s surge in Bitcoin&#8217;s price, which has rekindled the fear of missing out (FOMO) feeling. Because of this spike, Bitcoin may be able to reach the next major resistance level, which is located at about $42,000, in the next few weeks. Still so far, so good on #Bitcoin. Slowly grinding upwards to a new resistance point and a break above $38K immediately means $40K is next. pic.twitter.com\/3ZUkS72I6g \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) November 24, 2023 Some market watchers are optimistic about its short-term trajectory, with trader Michael Van Pope suggesting in a tweet that the next milestone for Bitcoin is set at $40,000. The US Department of Justice and Binance reached an agreement, which is undoubtedly the most significant development of the month. Changpeng Zhao was forced to resign as the CEO of the company, and the exchange was forced to pay a punishment totaling around $4.3 billion. Binance, the biggest cryptocurrency exchange in the world, has named Richard Teng as its new CEO. Bitcoin poised to reclaim the $38K territory today. Chart: TradingView.com Bitcoin Circulating Supply In Profit Region A recent uptick in market liquidations is another important component impacting the Bitcoin price. Long and short position liquidations have increased significantly across different time frames, with a total of $80.29 million in liquidations in the last 24 hours, according to statistics from Coinglass. Related Reading: Analyst\u2019s Crystal Ball: XRP Bulls Eyeing $40 Price Target, Despite Doubts Source: Coinglass In a related development, during last week&#8217;s gain, the proportion of Bitcoin&#8217;s circulating supply that is currently in profit hit 84%, or 16.36 million BTC. Additionally, Glassnode noted that this is historically noteworthy because it is significantly higher than the 74% all-time mean number. With #Bitcoin trading at yearly highs above $37k last week, over 83% of the coin supply was driven back into profitable territory. However, the magnitude of unrealized profit remains modest, and is not yet sufficient for long-term investors to divest.https:\/\/t.co\/IGJpglF20J \u2014 glassnode (@glassnode) November 22, 2023 Meanwhile, further fueling the positive outlook is the heightened expectation surrounding the potential approval of spot bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission. With a looming deadline of January 10, the SEC is tasked with evaluating numerous pending applications for these ETFs. If given the green light, these ETFs are poised to provide investors with a more cost-effective avenue to tap into the Bitcoin market, adding another layer of optimism to the current bullish sentiment. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Freepik<\/p>\n","protected":false},"author":557,"featured_media":562392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,428,1119,6664,1944],"class_list":["post-562386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-bitcoin","tag-btc","tag-crypto","tag-etf"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Rockets Past $38,000, Highest Peak Since May 2022<\/title>\n<meta name=\"description\" content=\"In a dramatic twist, a mere 48 hours after the United States laid out a hefty $4.3 billion settlement proposal with the major player in the crypto market,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Rockets Past $38,000, Highest Peak Since May 2022\" \/>\n<meta property=\"og:description\" content=\"In a dramatic twist, a mere 48 hours after the United States laid out a hefty $4.3 billion settlement proposal with the major player in the crypto market,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-25T08:48:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-25T08:49:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-139.png\" \/>\n\t<meta property=\"og:image:width\" content=\"974\" \/>\n\t<meta property=\"og:image:height\" content=\"546\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 &#8211; 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 &#8211; Details","url":"http:\/\/wncen.com\/news\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-139.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-139.png?fit=974%2C546"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","bitcoin","btc","crypto","etf"],"dateCreated":"2023-11-25T08:48:11Z","datePublished":"2023-11-25T08:48:11Z","dateModified":"2023-11-25T08:49:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 &#8211; Details\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-rockets-past-38000-hits-highest-peak-since-may-2022-details\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-139.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-139.png?fit=974%2C546\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"bitcoin\",\"btc\",\"crypto\",\"etf\"],\"dateCreated\":\"2023-11-25T08:48:11Z\",\"datePublished\":\"2023-11-25T08:48:11Z\",\"dateModified\":\"2023-11-25T08:49:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-139.png?fit=974%2C546","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/562386"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=562386"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/562386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/562392"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=562386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=562386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=562386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}