Increase the price of bitcoin: the effects of improvised financial conditions Flash news details

On November 15, 2023, Bitcoin has witnessed a large price rally, reaching an increase of $ 37,200 at 14:30 UTC, which represents an increase of 7.5 % over the past 24 hours (Coinmarkketcap, 15 November 2023). This increase was accompanied by a rise in trading volume to $ 34.5 billion, which is the highest since May 2022 (Coingecko, 15 November 2023). This gathering coincided with reports that indicate a possible reduction in the financial conditions, as shown in the last minutes of the Federal Reserve, which alludes to a potential stop in high prices (Federal Reserve, November 1, 2023). Bitcoin’s association with traditional financial markets was clear, as the reaction of the cryptocurrency was often to macroeconomic news and political changes (Bloomberg, November 10, 2023). This assembly was also reflected in multiple commercial pairs, as BTC/USD shows the most important movement, followed by BTC/EUR and BTC/GBP (TradingView, 15 November 2023). The standards on the series also confirmed the upscale feelings, as the number of active titles increased by 12 % to 980,000 and the retail rate, which reaches the highest new level ever, is 378 EH/S (Blockchain.com, November 15, 2023).

Trading effects of this gathering are deep. The increase in bitcoin and trading volume indicates a strong transformation in the market, and possibly driven by the anticipation of the most flexible financial conditions. This is evident by the increase in open interest in the future contracts for bitcoin, which increased by 15 % to $ 18.2 billion on the Chicago Commercial Exchange (CME, 15 November 2023). The assembly also affected Altcoins, where Etherum got 5.2 % to reach $ 2050 at 15:00 UTC (Coinbase, 15 November 2023). The market’s reaction to the possible financial mitigation confirms the role of Bitcoin as a hedge against traditional financial tools, a feeling that the founding investors repeatedly increases their exposure to encrypted currencies (JPMorgan, November 12, 2023). The assembly effect on trading pairs was not uniform, as BTC/JPY showed a silent response, with only 3.8 % to 4,250,000 JPY at 16:00 UTC (Bitflyer, 15 November 2023). This indicates a possible difference in global market reactions to the same news of the macroeconomic.

Technical indicators support budget expectations for Bitcoin. The RSI of Bitcoin at 72 at 17:00 UTC, indicating excessive conditions at the peak of purchase but also a powerful momentum (TradingView, 15 November 2023). The MacD is a bullish intersection, with the MACD line crossing over the signal line at 16:30 UTC, indicating the continuation of upward momentum (Coinigy, 15 November 2023). Bitcoin trading sizes on major stock exchanges such as Binance and Coinbase increased by 22 % and 18 %, respectively, reaching $ 12.5 billion and $ 6.3 billion at 18:00 UAE time (CryptocCOCOMPARE, 15 November 2023). The scales on the chain, such as the MVRV ratio, which measures the market value to the achieved value, reached 3.2, indicating that bitcoin was still in a profitable area for its long -term owners (Glassnode, 15 November 2023). These indicators and size data indicate that the market is ready to achieve more gains if the financial conditions continue to mitigate.

In the context of developments in artificial intelligence, recent developments in the algorithms of machine learning were associated with increasing interest in the symbols associated with the prosecution. On November 14, 2023, the announcement of a new model by a leading technical company has increased 10 % in the price of Singularitynet (AGIX) to $ 0.45 at 10:00 UTC (Coinmarketcap, November 14, 2023). This event also witnessed a 5 % increase in trading volume of artificial intelligence symbols, reaching $ 1.2 billion (Coingecko, November 14, 2023). The relationship between Ai News and Crypto Market Asfrance is clear, with developments of artificial intelligence often pays the interest of speculation with relevant symbols. This has increased trading volumes in AI’s symbols, as platforms such as UisWAP have seen 15 % in Agix trading volume to $ 50 million at 11:00 UAE (UISWAP, November 14, 2023). The possibility of AI’s trading algorithms on the market dynamics increases the increasing intersection between the AI ​​and Cryptocurrency markets.

Often, questions about the last gathering of Bitcoin include and its repercussions: How is the Bitcoin price movement related to traditional financial markets? The Bitcoin price often interacts with macroeconomic news and policy changes, as it appears with the last gathering after hints of high prices by the Federal Reserve (Bloomberg, November 10, 2023). What are the trading effects to increase Bitcoin? The increase in bitcoin and trading volume indicates a strong transformation in the market, which is likely to be driven by the expectation of light financial conditions, which affects not only Bitcoin but also Altcoins such as Ethereum (CME, November 15, 2023; Coinbase, 15 November 2023). How does technical indicators support bullish expectations for Bitcoin? Technical indicators such as RSI and MACD show a strong momentum and possibilities for the continuous upward movement, with the support of high trading sizes on the main stock exchanges (TradingView, 15 November 2023; Coinigy, November 15, 2023). What is the impact of developments in the artificial intelligence on the encryption market? Development of artificial intelligence, such as new artificial intelligence models, can lead to an increase in the symbols associated with the prosecution and increased trading sizes, reflecting the increasing intersection between the AI ​​and Cryptocurrency markets (Coinmarkcap, November 14, 2023; Coingecko, November 14, 2023; UISWAP, November 14, 2023).