Remove the maximum Bitcoin Core OP_RUTURN: The potential effect of the encryption trade and Blockchain | Flash news details

The recent controversy surrounding the potential removal of the OP_RUTURN at Bitcoin Core sparked an intense discussion between developers, miners and merchants, with major effects on Bitcoin and market dynamics. It was also discussed in a detailed analysis conducted by Bitmex Research, the OP_RUTURN limit, which was currently appointed at 80 bytes, restricts the amount of data that can be included in bitcoin transactions for purposes such as descriptive or temporal data. The proposal to remove or increase this limit aims to improve the Bitcoin functions, which may allow the most complex use cases such as decentralized applications or storage of augmented data on Blockchain. This development, which was reported on November 1, 2023, has already affected the market morale, as Bitcoin (BTC) witnessed price increases by 2.3 % within 24 hours of breaking news, moving from 34,200 dollars to $ 35,000 by 3:00 pm on November 2, 2023, according to data from Coingecko. BTC trading volume increased by 18 % during this period, reaching $ 25.8 billion via major stock exchanges such as Binance and Coinbase, indicating an increase in the investor’s interest. The discussion is also associated with the wider market trends, as Bitcoin and the expansion of the expansion remain a major engine proposal in the long run. Meanwhile, the stock market, especially heavy technology indicators such as the Nasdaq Stock Exchange, showed a modest increase of 1.1 % on November 2, 2023, at 2:00 pm UTC, which reflects optimism in the innovation related to the blockchain, which can indirectly enhance the attraction of bitcoin for institutional investors.

From the trading perspective, the potential removal of OP_RUTURN presents opportunities and risks on the encryption markets. If implemented, this change may increase the activity on the chain, as developers benefit from Bolockchain from Bitcoin for the most diverse applications, which may enhance transaction fees and mining revenue. This can positively affect the BTC price in the short term, as analysts offer a possible re -test of the resistance level of $ 36,000 by November 5, 2023, based on the current momentum. However, the risks include network congestion and higher fees, which may deter the smallest retail merchants. Market analysis through the relationship with encryption stocks such as Microstrategy (MSTR), which increased by 3.2 % to $ 430.50 by 1:00 pm UTC on November 2, 2023, for all Yahoo financing data, reflects the investor confidence in the advanced bitcoin utility. Trading pairs such as BTC/USD and BTC/ETH recorded a 15 % increase, as BTC/USD reached $ 35,100 at 4:00 pm UTC on November 2, 2023, while ETH left a slightly 1.5 % to $ 1820. This difference indicates that merchants are priority for bitcoin exposure to Altcoins in the midst of this news. In addition, the flow of institutional funds to the investment funds circulated in Bitcoin, such as Trust Bitcoin Trust (GBTC), witnessed an increase of 10 % to $ 320 million on November 2, 2023, indicating an increase in interest from the traditional financing sectors.

Technical indicators emphasize the increase in budget momentum after this development. BTC/USD has reached a 42 -hour graph on 62 as of 5:00 pm UTC on November 2, 2023, indicating a space for the bi -up movement before excessive conditions in the peak field. The mobile average for 50 days (MA) at $ 33,800 provided strong support, with BTC trading much higher than this level at 35,050 dollars by 6:00 pm UTC, for all TradingView data. The scales on the series, as mentioned by Glassnode, showed a 7 % increase in active headlines, up to 1.02 million on November 2, 2023, reflecting the increasing network participation. The clear shares of the shares remain clear, as the S&P 500 increased by 0.9 % to 4,320 points by 3:00 pm UTC on November 2, 2023, which reflects Bitcoin’s gains, highlighting the feeling of risks across the market. Institutional flows to codes, followed by Coinshares, increased by $ 55 million for the week ending November 1, 2023, with Bitcoin focusing money representing 80 % of this capital. This indicates that the optimism of the stock market, especially in the technology sectors, leads the capital to Bitcoin, which creates trading opportunities on major resistance levels such as $ 36,000. For traders, monitoring BTC size, currently at $ 26.2 billion, starting from 7:00 pm UTC on November 2, 2023, and the stock market trends will be very important to take advantage of this advanced narration.

In short, the potential removal of the Bitcoin OPCORN limit can reshape the network dynamics and market morale, providing traders an opportunity to reach the upward trend while maintaining the risks of expansion. The interaction between the gains of the stock market and the encryption flows emphasizes the importance of market analysis through enlightened commercial decisions. With the Bitcoin price movement and sized directions, the coming days can provide intermittent opportunities if the institutional interest continues.